Question
1. Construct a partial amortization schedule showing the last 2 payments. PMT Setting N I/Y P/Y C/Y PV PMT FV Payment NumberPaymentInterest PaidPrincipal RepaidOutstanding Principal
1. Construct a partial amortization schedule showing the last 2 payments.
PMT Setting N I/Y P/Y C/Y PV PMT FV
Payment NumberPaymentInterest PaidPrincipal RepaidOutstanding Principal
2. Determine the total amount paid to settle the loan. Show work, not just the answer.
3. Determine the total principal repaid.
4. Determine the total amount of interest paid. Show work, not just the answer.
Cloverdale Nurseries obtained a $60,000 loan at 8% compounded quarterly to build an additional greenhouse. Monthly payments of $1060 were made to settle the loan. 1. Construct a partial amortization schedule showing the last 2 payments. 2. Determine the total amount paid to settle the loan. Show work, not just the answer. 3. Determine the total principal repaid. 4. Determine the total amount of interest paid. Show work, not just the answer. Paragraph B I U v A .. + v 1. Construct a partial amortization schedule showing the last 2 payments. PMT Setting N
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Managerial Accounting
Authors: Kulp, Susan, Dragoo, Amie, Hartgraves, Al L, Morse Wayne J.
9th Edition
1618533622, 9781618533623
