Question
Q11) Prepare the first row of a loan amortization schedule based on the following information.The loan amount is for$47,179.00with an annual interest rate of6.90% .
Q11) Prepare the first row of a loan amortization schedule based on the following information.The loan amount is for$47,179.00with an annual interest rate of6.90% . The loan will be repaid over5.0years with monthly payments.
a) Loan payment (1 point)
b) Interest portion (1 point)
c) Principle portion (1 point)
d) Loan balance after first monthly payment (1 point)
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Entrepreneurial Finance
Authors: J. Chris Leach, Ronald W. Melicher
6th edition
1305968352, 978-1337635653, 978-1305968356
