Question
Construct a detailed Fixed Loan Amortization schedule for a 2 year corporate equipment loan of $750,000.00, payable at a 7 1/2% annual interest rate, with
Construct a detailed Fixed Loan Amortization schedule for a 2 year corporate equipment loan of $750,000.00, payable at a 7 1/2% annual interest rate, with payments scheduled to be made on a quarterly basis. This loan calls for the payback of $93,750.00 toward the principal with each scheduled payment. Note that the schedule may be off by several dollars due to rounding. The schedule should include the following parts, which you should put in the form of a table:
A) Beginning Balance B) Payment per Period C) Interest Paid D) Principal Paid E) Ending Balance
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