Question
prepare the first row of a loan amortization schedule based on the following information. The loan amount is $6,413 with an annual interest rate of
prepare the first row of a loan amortization schedule based on the following information. The loan amount is $6,413 with an annual interest rate of 05.00%. the loan will be repaid over 36 years with monthly payments.
a. what is the loan payment?
b, what is the portion of this payment in interest?
c, what portion of this payment is principle?
d, what is the loan balance after the first monthly payment?
e, what is the most you would be willing to pay fir an investment that will pay you $824 in one year, $478 in two years, and $568 in three years, if your required rate of return for this type of investment is 21.00%
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