Develop an amortization schedule for this loan

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Reference no: EM131573746

XYZ bank has offered you a exist1,000,000 5-year loan at an interest rate of 12%, requiring equal annual end-of-year payments that include both principal and interest on the unpaid balance,

Develop an amortization schedule for this loan.

What is the annual mortgage payment?

What is the total interest payment from year 1-5?

Reference no: EM131573746

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