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J20 X for . B D E F G H FLAT PAYMENT SCHEDULE 1 2 3 4 5 6 7 8 9 10 11 Consider

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J20 X for . B D E F G H FLAT PAYMENT SCHEDULE 1 2 3 4 5 6 7 8 9 10 11 Consider a $75,000 bank loan with an interest rate of 5%, a maturity of 10 years and an annual flat payment. Compute the annual payment and fill in the missing cells in the loan table. Interest rate 12 Principal 13 Payment 14 15 16 17 Division of payment between: Year Principal at beginning of year Payment at end of year Interest Principal 18 19 1 INSERT FORMULATEXT HERE 20 2 21 3

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