Prepare an amortization schedule for a three-year loan of $60,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan

Using the excel formula to calculate the yearly payment we calculate the amount which is 23,703.29 . Base in this information we proceed to prepare the amortization schedule:

PeriodInitial amount  Amortización    Interest     Payment      Final Amount

1         60,000.00    18,303.29   5,400.00    23,703.29    41,696.71  

2         41,696.71   19,950.58   3,752.70     23,703.29     21,746.13  

3         21,746.13   21,746.13   1,957.15       23,703.29            -    

The total interest paid is  $ 11,109.86

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.

answer; dividing net income by 1- t ;