Loan amortization schedule Personal Finance Problem Joan Messineo borrowed $47 comma 000 at a 6% annual rate of interest to be repaid over 3 years. The loan is amortized into three equal, annual, end-of-year payments. a. Calculate the annual, end-of-year loan payment. b. Prepare a loan amortization schedule showing the interest and principal breakdown of each of the three loan payments. c. Explain why the interest portion of each payment declines with the passage of time.
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You want to have $80,000 in your savings account 11 years from now, and youβre prepared to make equal annual deposits into the account at the end of each year. if the account pays 6.30 percent interest, what amount must you deposit each year? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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Loan amortization schedule Personal Finance Problem Joan Messineo borrowed $47 comma 000 at a 6% ann...
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