Joan messineo borrowed 15000 at a 15 annual rate of, Ask an Expert

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Joan Messineo borrowed $15,000 at a 15?% 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 breadown of each of the three loan payments.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92317273

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