PLEASE SHOW ALL WORK

LOAN AMORTIZATION. FOR THIS AND THE NEXT 2 QUESTIONS. On a spreadsheet, set up a monthly amortization schedule for a 3-year car note of $20,000. The annual interest rate on this loan is 7%. Calculate the monthly payment.

		A.$617.54
		B.$7,709.58
		C. $3,630.76
		D. None of the above

What is the beginning loan balance on the 24th month?

		A. $617.54
		B. $7,709.58
		C. $3,630.76
		D. None of the above

What is the ending loan balance on the 30th month?

	A.	$617.54
	B.	$7,709.58
	C.	$3,630.76
	D.	None of the above

At maturity, the value of a bond is always equal to its face value.

A. True

B. False

Zero coupon bonds always sell at less than face value prior to maturity.

A.True

B. False