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Your company is planning to borrow $1 million on a 5-year, 15%, annual payment, fully amortized...

Your company is planning to borrow $1 million on a 5-year, 15%, annual payment, fully amortized term loan.
Develop an amortization schedule by inserting an additional column that will represent the fraction of the payment made at the end of each year that will represent repayment of principal.

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Amortization schedule that will represent the fraction of the payment made at the end of each year that will represent repayment of principal is as follows:

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