D B 1 Loan Amortization Schedule 2 3 Required: 4 a) Construct an full amortization schedule for the scenerio below. Details to 5 include pmt #, payment amount, interest portion and principal portion. 6 7 b) Determine how much interest was paid over the term of the loan. 8 9 Details: 10 Kirkland Corporation obtained a $100,000 loan for a new business venture. The 11 loan contract requires payments at the end of each quarter including interest at 12 4% compounded semi-annually. The loan is to be repaid by equal quarterly 13 14 payments over a five year term. 15 16 compounding 17 I/Y NOM 18 P/Y 19 C/Y EFF 20 N 21 PV payment 22 FV NOM 23 PMT CHY 24 EFF 25 26 Pmt # Payment Interest Portion Principal Portion Principal Balance 27 Amortization Exercise #1 Amortization Exercise #2 CHY