20) A 30 year $100,000 business loan has been given to Mr Blue with 4 5 interest compounded monthly Given the following amortization schedule, answer the following questions a) What is the monthly payment amount Verify this using the annuity formula we learned b) What is the initial Ioan amount How many payments will he make to repay the loan c) How much total interest did you pay after 1 year (ie after 12 payments) d) How much total principal has been paid after 1 year (ie after 12 payments)

Question

20) A 30 year $100,000 business loan has been given to Mr  Blue with 4 5   interest compounded monthly  Given the following amortization schedule, answer the following questions  a) What is the monthly payment amount  Verify this using the annuity formula we learned  b) What is the initial Ioan amount  How many payments will he make to repay the loan  c) How much total interest did you pay after 1 year (ie  after 12 payments)  d) How much total principal has been paid after 1 year (ie  after 12 payments)

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Question

20) A 30-year $100,000 business loan has been given to Mr. Blue with 4.5% interest compounded monthly. Given the following amortization schedule, answer the following

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