Question
A loan of 10,000 is amortized by 8 end-of-year payments at an annual effective interest rate of 6%. Show the first 2 and last 2
A loan of 10,000 is amortized by 8 end-of-year payments at an annual effective interest rate of 6%. Show the first 2 and last 2 lines of the amortization schedule:
| Time | Payment | Interest | Principal | Balance |
| 0 |
|
|
|
|
| 1 |
|
|
|
|
| . . . |
|
|
|
|
| 7 |
|
|
|
|
| 8 |
|
|
|
|
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Intermediate Financial Management
Authors: Eugene F Brigham, Phillip R Daves
14th Edition
0357516664, 978-0357516669
