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    Loan amortization schedule

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    Consider a 4-year amortizing loan. You borrow $10,000 initially, and repay it in four equal annual year-end payments.

    a. Fill in the following Loan amortization schedule
    b. Why does the amount of interest decline as the loan ages?

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    Solution Summary

    The solution prepares a loan amortization schedule and discusses why the amount of interest decline as the loan ages