2) A 40 year/ $150,000 loan is made with effective annual interest i = 3%...
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Accounting
2) A 40 year/ $150,000 loan is made with effective annual interest i = 3% for the first 15 years and i = 4% for the next 25 years. The loan is paid off with constant yearly payments K beginning one year after the loan is made. Find K, and find the OB15 and 0B25. Lastly, fill out the following amortization table for 3 years. t Payment Interest Principle Repaid Outstanding Balance $150,000 0 1 2 3
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