Fashions Corporation wishes to borrow $600,000 on a five-year term basis.
Cattlepersons National Bank is willing to make such a loan at a 14 percent
rate, provided the loan is completely amortized over the five-year period.
Payments are due at the end of each of the five years. Set up an amortization
schedule of equal annual loan payments that will satisfy these conditions. Be
sure to show both the principal and interest components of each of the overall
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