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    Ammortization schedule

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    On 10/1/05, the ACCT300 Commissioner authorized a special loan agreement with Astros Co, whereby Astros Co would borrow $125,000 at 9% interest. Conditions of tthe agreement require the repayment of the loan with 7 annual payments, beginning 10/1/06, in the following amounts

    Payment Number Payment Amount
    1 25,000
    2 25,000
    3 25,000
    4 ???
    5 20,000
    6 15,000
    7 10,000

    **Compute the :
    1) balance of the loan at 10/1/08, immediately after the 3rd payment
    2) balance of the loan at 10/1/09, immediately after the 4th payment
    3) amount of the 4th payment
    4) amount that the balance of the loan decreases between 10/1/06 and 10/1/07
    5) amount fo interest incurred by Astros Co between 10/1/10 and 10/1/11

    CLUE MUST MATCH::::Interest from 10/1/07 through 10/1/10 is approximately $19,340

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    https://brainmass.com/business/finance/amortization-schedule-computed-51746

    Solution Summary

    The expert calculates the amount of interest. Amortization schedules are computed for a special loan agreement with Astro Co.

    $2.19

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