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6. Assume that a $200,000 loan will be repaid in 30 annual payments at 6 percent annual interest on the outstanding balance. How much
6. Assume that a $200,000 loan will be repaid in 30 annual payments at 6 percent annual interest on the outstanding balance. How much principal and interest will be due in the first payment if the loan is amortized with equal principal payments? payments? How would these figures change for the second payment If it is amortized with in each equal total case? Use Appendix Table 1 to find the amortization factor for the equal total payment case. (Chapter 19, Page 383) (15%)
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