Question
A bank loan requires you to pay $70,500 at the end of each of the next eight years. The interest rate is 10% a. What
A bank loan requires you to pay $70,500 at the end of each of the next eight years. The interest rate is 10%
a. What is the present value of these payments?
b. Complete the following amortization table Years 1 through 8
|| Year || Beginning Balance || Payment || Interest (10%) || Loan Red. || Ending Balance ||
1 ? ? ? ? ?
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2 ? ? ? ? ?
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" "
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8
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Survey Of Accounting
Authors: Thomas Edmonds, Philip Olds, Frances McNair, Bor-Yi Tsay
1st Edition
0073526770, 9780073526775
