Question
Construct an amortization schedule for a $1,000, 8% annual rate loan with 3 equal payments. The...
Construct an amortization schedule for a $1,000, 8% annual rate loan with 3 equal payments. The first payment will be made at the end of the1st year. Find the required annual payments (Why is D the correct answer?)
a)$367.2
b) $355.8
c) $367.2
d) $388.0
e)$390.7
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