How do find the required annual payments

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Problem 1: Construct an amortization schedule for a $1,000, 5% annual rate loan with 3 equal payments. The first payment will be made at the end of the1st year. Find the required annual payments

Problem 2: Based on the information from the previous question, what's the ending balance of the amortized loan at the end of the third year?

Reference no: EM132938052

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