Question
Detroit Fishing obtained a $40,000 loan for the construction of a trawler, The loan contract requires seven equal annual payments including interest at 11.830625% compounded
Detroit Fishing obtained a $40,000 loan for the construction of a trawler, The loan contract requires seven equal annual payments including interest at 11.830625% compounded annually. Construct the full amortization schedule for the loan.
Construct the amortization schedule for the above loan.
INTERES T PORTION
PRINCIPA L PORTION
PRINCIPA L BALANCE
PAYMEN T#
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PAYMEN T
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Authors: Zvi Bodie, Alex Kane, Alan Marcus, Stylianos Perrakis, Peter
8th Canadian Edition
007133887X, 978-0071338875
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