Question
A debt of $80,000 is amortized by making equal payments at the end of every month for ten years. Interest is 6% compounded quarterly. a)Construct
A debt of $80,000 is amortized by making equal payments at the end of every month for ten years. Interest is 6% compounded quarterly.
a)Construct a partial amortization table of including totals of 1, 2, 3, 44, 66, and 77.
including
Amount Paid
Interest Paid
Principal Repaid
Outstanding Principal Balance
Give the total amounts for every payment.
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
