Question
Andy Smith needs to borrow $100,000 to expand his lodging business. The terms are as follows: Loan amount: $100,000 Annual interest rate: 8% Term: 3
Andy Smith needs to borrow $100,000 to expand his lodging business. The terms are as follows:
Loan amount: $100,000
Annual interest rate: 8%
Term: 3 years
Complete the amortization table for this loan.
| Year | Payment | Interest | Principal | Balance |
| 0
| - | - | - | $100,000.00 |
| 1
| $38,803.35 |
|
|
|
| 2
|
|
|
|
|
| 3
|
|
|
|
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Wealth Habits Six Ordinary Steps To Achieve Extraordinary Financial Freedom
Authors: Candy Valentino
1st Edition
1394152299, 978-1394152292
