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Evaluate the unpaid balance and interest calculations

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Reference no: EM131556629

Question: LOAN AMORTIZATION A sum of $100,000 is to be repaid over a 10-yr period through equal installments made at the end of each year. If an interest rate of 10%/year is charged on the unpaid balance and interest calculations are made at the end of each year, determine the size of each installment so that the loan (principal plus interest charges) is amortized at the end of 10 yr.

Reference no: EM131556629

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