Amortization Schedule

Consider a $40,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 11%.

1. Set up an amortization schedule for the loan. Round your answers to the nearest cent. Enter "0" if required

   Year	Payment	Repayment Interest	Repayment of Principal	Balance
   1	$	$	$	$
   2	$	$	$	$
   3	$	$	$	$
   4	$	$	$	$
   5	$	$	$	$
   Total	$	$	$