Question
A: Complete an amortization schedule for a $41,000 loan to be repaid in equal installments at the end of each of the next three years.
A: Complete an amortization schedule for a $41,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 6% compounded annually. Round all answers to the nearest cent.
B: What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all answers to two decimal places.
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Financial Management Principles And Practice
Authors: Timothy Gallagher
6th Edition
1930789157, 978-1930789159
