Question
Construct a loan amortization schedule for a 3-year, 12 percent loan of $25,000. The loan requires three equal, end-of-year payments. Use Table IV or a
Construct a loan amortization schedule for a 3-year, 12 percent loan of $25,000. The loan requires three equal, end-of-year payments. Use Table IV or a financial calculator to answer the question. Round your answers to the nearest dollar.
| End of Year | Payment | Interest (12%) | Principal Reduction | Balance Remaining |
| 0 | - | - | - | $ 25,000 |
| 1 | $ | $ | $ | |
| 2 | ||||
| 3 |
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Key Financial Market Concepts
Authors: Bob Steiner
2nd Edition
0273750127, 978-0273750123
