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# Construct an amortization schedule for a \$1,000, 10% annual rate loan with 3 equal annual payments.... Construct an amortization schedule for a \$1,000, 10% annual rate loan with 3 equal annual payments. Step #1: Find the required annual payment on the loan. Step #2: Complete the amortization table for the loan. (4) = (2)-(3) (5) = (1)-(4) (3) = (1) * interest rate INTEREST EXPENSE PAYMENT YEAR PERIOD BEGINNING BALANCE PRINCIPAL REPAYMENT ENDING BALANCE

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annual payment = 402.11 #### Earn Coins

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