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Bob Jones bought a new log cabin for $71,000 at 10.5% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use
Bob Jones bought a new log cabin for $71,000 at 10.5% 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.) Payment Number Portion to Interest Balance of loan outstanding Principal TABLE 15-1 Amortization table (mortgage principal and interest per $1,000 INTEREST Term In years 10% 10% 11% 3% 9.89 8.52 7.15 6.52 12 15 17 5% 10.61 0.25 7.91 7.20 6.60 620 585 537 505 53% 10.86 0.51 8.18 56 6.88 651 6.15 568 538 6% 11.11 0 76 8.44 784 65% 7% 74% 113611621,88 1002 10.20 0.56 8.72 8.99 9.28 8.12 8.40 8.69 746 7.76 7.13 744 775 676 707 7.39 6.33 7.00 GOS 6.39 6.75 8% 12.14 1087 956 8.99 8.37 807 772 89% 12.40 11.11 9.85 9.29 8.68 8.39 8.06 7.69 747 9% % 1267 1294 11.39 1167 10.1510.45 9.59 990 9.00 933 8.72 905 8.408.74 805 8.41 784 8.22 1322 11.06 0.75 1022 9.66 9.39 909 8.78 860 7.17 13.50 12.25 11.06 10.54 9.99 9.73 0.45 915 8.99 1378 12.50 11.37 10.86 10.33 22 25 0.81 544 501 4.50 3.99 682 645 600 571 7.11 9.37
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