Question
I was able to do problems 33 & 34 with no issue, but I got 35 incorrect and I dont see where I went wrong.
I was able to do problems 33 & 34 with no issue, but I got 35 incorrect and I dont see where I went wrong. Please break down the calculation.
33. Construct an amortization schedule for a $1,000, 8% annual rate loan with 3 equal payments. The first payment will be made at the end of the1st year. Find the required annual payments: $338.0
34. Based on the information from Question 33, whats the ending balance of the amortized loan at the end of the third year: $0
35. Based on the information from Question 33 and 34, calculate the total amount of interests you should pay for the amortized loan in three years.
A. $128.8
B. $145.4
C. $150.0
D. $164.1
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