Question
Mountain Products Inc. just negotiated a $630,000 commercial loan which is to have LEVEL TOTAL PAYMENTS for four years at a rate of 6%. Write
Mountain Products Inc. just negotiated a $630,000 commercial loan which is to have LEVEL TOTAL PAYMENTS for four years at a rate of 6%. Write out an amortization schedule for this loan and answer the questions below:
How much is the total payment each year? ___________________
What is the balance of the loan after year two? ________________
How much is paid on principal in year three? _________________
How much interest will be paid in year four? _______________
What is the total amount of interest paid over the life of the loan? __________________
FORMULAS PLEASE
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Financial Intelligence
Authors: Income Mastery
1st Edition
1647773210, 978-1647773212
