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

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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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
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