ACTIVITY 3-1 Prepare an amortization schedule for a three year loan of P90,000. The interest rate is 10% per year, and the loan calls for equal annual payments. 15pts. 1. How much interest is paid on the third year? 2. How much total interest is paid over the life of the loan? 3. How much is the total amount paid? Outstanding Balance Year Interest Annual Amortization Principal Paid 1 2 3 Total = P90,000

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