Question
Bob Jones bought a new log cabin for $68,000 at 11% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use
| Bob Jones bought a new log cabin for $68,000 at 11% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) |
| Portion to | |||
| Payment number | Interest | Principal | Balance of loan outstanding |
| 1 | $ | $ | $ |
| 2 | $ | $ | $ |
| 3 | $ | $ | $ |
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
