Question
Construct an amortization schedule for a $1,000, 8% annual rate loan with 3 equal payments. The first payment will be made at the end of
Construct an amortization schedule for a $1,000, 8% annual rate loan with 3 equal payments. The first payment will be made at the end of the1st year. Find the required annual payments
| $355.8 | ||
| $367.2 | ||
| $388.0 | ||
| $390.7 |
Based on the information from above, whats the ending balance of the amortized loan at the end of the second year
| $0 | ||
| $359.4 | ||
| $388.3 | ||
| $682.8 |
Based on the information from above, calculate the total amount of interests you should pay for the amortized loan in three years
| $28.8 | ||
| $55.4 | ||
| $80.0 | ||
| $164.2 |
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett
7th Edition
0073530751, 9780073530758
