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l. Suppose you borrow $15,000. The interest rate is 11%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the
l. Suppose you borrow $15,000. The interest rate is 11%, 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 | $ fill in the blank | $ fill in the blank | $ fill in the blank | $ fill in the blank |
| 2 | $ fill in the blank | $ fill in the blank | $ fill in the blank | $ fill in the blank | $ fill in the blank |
| 3 | $ fill in the blank | $ fill in the blank | $ fill in the blank | $ fill in the blank | $ fill in the blank |
| 4 | $ fill in the blank | $ fill in the blank | $ fill in the blank | $ fill in the blank | $ fill in the blank |
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