How much total interest is paid over the life of the, Financial Management

How much total interest is paid over the life of the

a. Prepare an amortization schedule for a five-year loan of $59,000. Assume the loan agreement calls for a principal reduction of $11,800 every year. The interest rate is 7 percent per year.

b. How much total interest is paid over the life of the loan?

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Financial Management: How much total interest is paid over the life of the

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