Consider a loan for 8000 for a period of 3 years at 7, Ask an Expert

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Consider a loan for $8000 for a period of 3 years at 7% interest with payments made annually. Build the amortization schedule for this loan. Also, answer the following two questions:

a) How much total interest is paid on this loan?

b) Express the total interest as a percent of the principal borrowed?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91270766

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