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Problem 5 - 5 6 Amortization with Equal Principal Payments [ LO 3 ] Prepare an amortization schedule for a three - year loan of
Problem Amortization with Equal Principal Payments LO
Prepare an amortization schedule for a threeyear loan of $ The interest rate is percent per year, and the loan agreement calls for a principal reduction of $ every year. How much total interest is paid over the life of the loan?
Note: Leave no cells blank. Enter where necessary. Do not round intermediate calculations and round your answers to the nearest whole number, eg
tableYeartableBeginningBalancetableTotalPaymenttableInterestPaymenttablePrincipalPaymenttableEndingBalance
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