the answer needed asap please!!! 6. Mr. Pete Smith borrowed...
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the answer needed asap please!!!
6. Mr. Pete Smith borrowed $20,000 for two years on annuity at 10% annual interest compounded and payable annually. Calculate the annual payments and provide the amortization schedule, i.e. a table that shows annual payment, balance, interest payment, and payment to principal for each payment. Also, calculate the total amount which Mr. Pete Smith will pay to the bank for the borrowed amount including interest and principal payments in the entire period of two years. Show the logic and the equations for all calculations
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