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l. Suppose you borrow $14,000. The interest rate is 9%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the
l. Suppose you borrow $14,000. 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 | Repayment | Ending | |||
| Year | Balance | Payment | Interest | of Principal | Balance |
| 1 | $ fill in the blank 60 | $ fill in the blank 61 | $ fill in the blank 62 | $ fill in the blank 63 | $ fill in the blank 64 |
| 2 | $ fill in the blank 65 | $ fill in the blank 66 | $ fill in the blank 67 | $ fill in the blank 68 | $ fill in the blank 69 |
| 3 | $ fill in the blank 70 | $ fill in the blank 71 | $ fill in the blank 72 | $ fill in the blank 73 | $ fill in the blank 74 |
| 4 | $ fill in the blank 75 | $ fill in the blank 76 | $ fill in the blank 77 | $ fill in the blank 78 | $ fill in the blank 79 |
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