Question
Prepare an amortization schedule for a five-year loan of $56,000. Assume the loan agreement calls for a principal reduction of $11,200 every year. The interest
Prepare an amortization schedule for a five-year loan of $56,000. Assume the loan agreement calls for a principal reduction of $11,200 every year. The interest rate is 7 percent per year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Leave no cells blank - be certain to enter "0" wherever required.)
- Beginning Balance
-Total Payment
- Interest Payment
- Principal Payment
- Ending Balance
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Investments Analysis and Management
Authors: Charles P. Jones
12th edition
978-1118475904, 1118475909, 1118363299, 978-1118363294
