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Suppose Shin borrowed $70,000 on a student loan at a rate of 10% and must repay...

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Finance

Suppose Shin borrowed $70,000 on a student loan at a rate of10% and must repay it in 5 equal installments at the end of each ofthe next 5 years.
a. Construct an amortization schedule.
b. What is the annual interest expense for the borrower andthe annual interest income for the lender during Year 4?

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aInstalment NoOpening balancePaymentInterest    See Answer
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