Question
How much do you still owe at the beginning of Year 4 (after the payment of 3rd annuity payment). Round to the nearest dollar
How much do you still owe at the beginning of Year 4 (after the payment of 3rd annuity payment). Round to the nearest dollar and assume end-of-year payments. Table 6.2 The Loan Amortization Schedule for a $5,000 Loan at 10% to Be Repaid in Four Years Year 1 2 Amount Owed on the Principal Interest Portion Repayment of the Principal Portion of the Annuity (2) (3) (4) Annuity Payment at the Beginning (2) of the Annuity of the Year (1) -(1) x 10% = (3) $5,000.00 1577.35 500 (I) Interest Portion of the 2nd year the Principal Portion of the 2nd year (1) Amount Owed (1) PMT on the Principal at the Beginning of the Year 2 3 4 1077.35 (iv) Repayment of Outstanding Loan Balance at Year End, After the Annuity Payment (1)-(4)-(5) 3922.65 (v) Outstanding Loan Balance at Year 2 End, after the Annuity Payment Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a 1434 b 1577 C 2738
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