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For a $30,000 three-year consumer loan payable monthly at 5.25% per year. 1) Calculate the monthly payment. (Consumer loans are loans to consumers and are
For a $30,000 three-year consumer loan payable monthly at 5.25% per year. 1) Calculate the monthly payment. ("Consumer loans" are loans to consumers and are always monthly.) 2) Calculate the amount of interest that will be paid over the life of the loan. 3) Do the full loan amortization table. Format the table in pennies i.e., 2 decimals in comma or $ mode. Be sure to adjust the last line of the table as necessary: a) zero out the BF column and b) be sure that the last principal payment equals the brought forward from the next to last line. 4) Total the payment, interest, and principal columns in your loan amortization table. Do not total the BF (brought forward) column
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