Question
Problem 1: Mr. Fahad borrowed a loan of $8,000 which is to be repaid with quarterly payments for 2 years with an interest rate of
Problem 1: Mr. Fahad borrowed a loan of $8,000 which is to be repaid with quarterly payments for 2 years with an interest rate of 4% compounded quarterly. Calculate his quarterly payment and construct an amortization schedule for the first 3 payments only. Show the details of your steps. NO STEPS NO CREDIT.
(5 marks)
ANSWER:
Given:
Solution:
a.
b.
c.
d. Amortization Schedule
| Payment No. | Payment Amount | Interest
| Reduction to Principal
| Principal Balance
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Who Is Your Competition You Real Estate Wholesaling Questions Answers And Tools To Help Beginners Crush Their Fears And Stop Procrastinating
Authors: Nick Zalonis
1st Edition
1716097193, 978-1716097195
