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Henigal is opening her new restaurant and is purchasing some gently used kitchen equipment. The entire cost with delivery and everything included in $180,000. She
Henigal is opening her new restaurant and is purchasing some gently used kitchen equipment. The entire cost with delivery and everything included in $180,000. She plans to put a 30% down payment and finance the rest for a 5-year loan, paying monthly payments. She also enjoys a good credit score, so she is able to obtain a loan at 4.5%. What is the total interest of the entire loan? (5pts). What is the amortization schedule of the 4th month? (5pts)
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