Question
PROBLEM - LOAN AMORTIZATION (30 POINTS) Walsh College is considering pursuing debt to help it finance a second new addition to its Troy Campus. To
PROBLEM - LOAN AMORTIZATION (30 POINTS) Walsh College is considering pursuing debt to help it finance a second new addition to its Troy Campus. To help the college assess whether or not it can afford the debt, Walsh wishes to develop an amortization schedule for the new debt that it is contemplating. Details on the debt are highlighted below: Loan Term: 5 YearsAmortization Period: 5 yearsPayment Terms: Monthly at the end of the monthInitial Principal Amount: $12,000,000Interest Rate: 5.75% annually Develop an Amortization schedule for this particular loan. The schedule must show all payments associated with the loan. At the end of the fifth year of the loan, the loan balance should be zero.
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