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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

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