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1. Construct an amortization table for a loan of $1000 to be paid in 4 equal annual payments of $315.47 at 10% annual effective interest
1. Construct an amortization table for a loan of $1000 to be paid in 4 equal annual payments of $315.47 at 10% annual effective interest rate. End of Period Interest Charged Payment Made Amount Applied to Debt Outstanding Debt 1,000.00 1 2 3 4 Totals 2. A family borrowed $200,000 for the purchase of a new home, after a $15,000 down payment was made on the house. The loan is for 30 years (360 payments) and the interest rate is 4.5% compounded monthly. What is the total cost of the house at the end of 30 years if the monthly payments are $1013.37? 3. How much interest was paid on the above loan
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