Question
Helen received a loan of $25,000 at 4.5% compounded quarterly. She had to make payments at the end of every quarter for a period of
Helen received a loan of $25,000 at 4.5% compounded quarterly. She had to make payments at the end of every quarter for a period of 7 years to settle the loan.
a. Calculate the size of payments.
Round to the nearest cent
b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places.
| Payment Number | Payment | Interest Portion | Principal Portion | Principal Balance |
| 0 | $25,000.00 | |||
| 1 | ||||
| 2 | ||||
| : : | : : | : : | : : | : : |
| : : | : : | : : | : : | : : |
| Please fill in as well | Please fill in as well | Please fill in as well | Please fill in as well | Please fill in as well |
| Please fill in as well | Please fill in as well | Please fill in as well | Please fill in as well | 0.00 |
| Total | Please fill in as well | Please fill in as well | Please fill in as well |
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Global Finance And Development
Authors: David Hudson
1st Edition
0415436354, 978-0415436359
