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IV. ONE MORE TIME! Building an Amortization Table & an Interest-Only Loan Schedule (Review Question) Assume you receive a loan of $5000. The terms of the loan are 3 years, annual payments, with a 3.5% annual interest rate. At maturity, the loan will be fully paid off. Please build out the amortization table Fis Fans Step 1: Solve for annual payment with amortization (with financial calculator). Once you have this, you can enter this payment in each period of the "fully amortizing loan" table. PV = NPER RATE PMT FVE Step II: Solve for the annual interest-only payment: (Formula: Annual interest rate x principal balance). Once you have this you can complete the Interest-Only side of the table AND you can enter the interest due in year 1 for the fully amortizing loan Step Ill: Build a quick amortization schedule rom Step Ill: Build a quick amortization schedule Amortizing Loans vs. Interest-Only Loans: sey is wa ans Fully Amortizing Loon Interest-Only Loan Year Payment Interest Principal Outstanding Year Balance Payment Outstanding Balance 0 0 1 1 2 2. 3 Payoff at Maturity Payoff at Maturity 4) What is the primary benefit of amortizing a loan? question wl 5) Most bonds are interest-only debt obligations. Looking over your table above (and comparing the payments from the fully amortizing loan to the interest-only loan), what might be a benefit of an interest-only loan from a cash management perspective? I 6) Corporate Credit (Review question) a) What type of risk are corporate credit ratings designed to asses? Expert