You are given the following: (i) Loan repayment period: 5 years. (ii) Beginning loan amount:...
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Accounting
You are given the following:
(i) Loan repayment period: 5 years.
(ii) Beginning loan amount: $75,000. (
iii) Two repayment options: (a) Level annual payments at the beginning of each year. (b) Level semi-annual payments at the end of each 6-month period.
(iv) A = annual payment under Option 1.
(v) B = total payments in a year under Option 2.
(vi) d (4) = 0.076225.
Calculate the absolute value of A B. Show Work.
A. 360
B. 560
C. 920
D. 970
E. 1030
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