The hotel you manage just purchased a new piece of property that is financed with a $800,000 amortized loan. If this loan is to be paid off in 4 equal, end-of-the-year annual payments and has an interest rate of 6.00%, how much of the third year's payment goes toward paying principal? Group of answer choices $205,476.32 $184,928.69 $230,873.19 $154,107.24 $200,000.00

The hotel you manage just purchased a new piece of property that is financed with a $800,000 amortized loan. If this loan is to be paid off in 4 equal, end-of-the-year annual payments and has an interest rate of 6.00%, how much of the third year's payment goes toward paying principal? Group of answer choices $205,476.32 $184,928.69 $230,873.19 $154,107.24 $200,000.00

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 15P

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