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I. Suppose you borrow $15,000. The interest rate is 9%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows
I. Suppose you borrow $15,000. The interest rate is 9%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the nearest cent. If your answer is zero, enter "0". Beginning Year Balance 1 15000 +A Payment $ Interest A Repayment of Principal Ending Balance $ $ +A $ Choose the correct graph that shows how the payments are divided between interest and principal repayment over time. 2 3 4 +A
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