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A $23,240 loan is to be settled by making payments of $6,748 at the end of every three months. The interest is 4.59% compounded annually.
A $23,240 loan is to be settled by making payments of $6,748 at the end of every three months. The interest is 4.59% compounded annually. a) Find the number of payments in the term. N= b) Fill in the missing values of the amortization schedule below. Payment No. 0. 1. 2. 3. 4. Payment Amount PMT. 0 1 $ 2 $ 3 $ 4 $ Interest PortionIRN. 0 1 $ 2 $ 3 $ 4 $ Principal PortionPRN. 0 1 $ 2 $ 3 $ 4 $ Loan BalanceBAL. $23,240 0 1 $ 2 $ 3 $ 4 $
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