Question
prepare the first row of a loan amortization schedule based on the following information. The loan amount is $4,562 with an annual interest rate of
prepare the first row of a loan amortization schedule based on the following information. The loan amount is $4,562 with an annual interest rate of 2.0%. the loan will be repaid over 38 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 $763 in one year, $847 in two years, and $775 in three years, if your required rate of return for this type of investment is 15.00%
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