Question
Chad received a loan of $13,000 at 4.50% compounded quarterly. He had to make payments at the end of every quarter for a period of
Chad received a loan of $13,000 at 4.50% compounded quarterly. He had to make payments at the end of every quarter for a period of 1 year to settle the loan.
a. Calculate the size of payments.
Round to the nearest cent
b. Fill in the amortization schedule, rounding the answers to two decimal places.
| Payment Number | Amount Paid | Interest Portion | Principal Portion | Principal Balance |
| 0 | $13,000.00 | |||
| 1 | ||||
| 2 | ||||
| 3 | ||||
| 4 | ||||
| Total |
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Financing Large Projects Using Project Finance Techniques And Practices
Authors: Fouzul Khan, Robert Parra
1st Edition
9780131016347
