Module $2-$ Time Value of Money Assignment i

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$9$

A bank loan requires you to pay $$87,000$ at the end of each of the next eight years. The interest rate is $8\%.$

$0\mathrm{.}5$

a$.$ What is the present value of these payments?

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b$.$ Complete the following amortization table.

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Complete this question by entering your answers in the tabs below.

Required B

Complete the following amortization table.

Note: Negative amounts should be indicated by a minus sign. Round intermediate calculations and final answers to the nearest whole dollar amount.

$\backslash$table$[[\backslash$table$[[$Year$],[1]],\backslash$table$[[$Beginning$],[$Balance$]],$Payment,Interest $(8\%),$Loan Reduction,Ending Balance$],[$$$,499,958,$$$,87,000,$$$,39,997,$$$,47,003,$$$,452,954],[2,,452,954,,87,000,,36,236,,50,764,,402,191],[3,,402,191,,87,000,,32,175,,54,825,,347,366],[4,,347,366,,87,000,,27,789,,59,211,,288,155],[5,$L$,288,155,,87,000,,23,052,,63,948,,224,207],[6,F,$A $$n$,,27nl,,17027,,6$a $$a$?,,15E111$