Healthcare organizations often find themselves taking out loans to purchase high cost items such as CAT scanners. So, understanding the cost of a loan is essential. Compute the first six months of a loan amortization schedule with a principal balance of 60,000, an interest rate of ten percent, and a payment period of three years or thirty-six months.

Loan Amortization Schedule

Principal borrowed: 60,000

Total payments: 36

Annual interest rate 10.00% (monthly rate = 0.8333%)

Payment #	Total Payment	Principal Portion of Payment	Interest Expense Portion of Payment	Remaining Principal Balance
Beginning balance =				60,000.00
1
2
3
4
5
6