Question
Constant amortization (CAM ) Loan Consider a $15,000 CAM loan made at a 2.5 percent annual (nominal) rate of interest for 3 years. D) Fill
Constant amortization (CAM ) Loan
Consider a $15,000 CAM loan made at a 2.5 percent annual (nominal) rate of interest for 3 years. D) Fill in the amortization schedule for each month (calculate or fill in the values of the beginning loan balance, monthly payment, interest, amortization, and ending loan balance). Be sure to show calculations if needed (i.e. do not simply type in values but reference other cells to compute the calculations). Create a graph (scatter plot) of interest payments (primary y-axis) and amortization and monthly payments (both on the secondary y-axis) against months (x-axis) in one plot. Label the y-axes, x-axis, legend, and chart title
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