Construct an amortization table for a 3-year $50,000 loan with monthly payments and an annual...
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Accounting
Construct an amortization table for a 3-year $50,000 loan with monthly payments and an annual interest rate of 7%. Verify in your table that total interest paid = # of Payments X Payment Original Loan Amount. Construct your model and solutions in such a way that if I change the interest rate (say to 5%) it recalculates the amortization table and total interest and savings in interest from the original loan.
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