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Colin bought a business for $60 000. He agreed to make equal payments at the end of every month for 15 years. Interest is at
Colin bought a business for $60 000. He agreed to make equal payments at the end of every month for 15 years. Interest is at 4% compounded semi-annually. Construct a partial amortization table showing details for the first two payments, payments 57 and 58, and the last two payments. Show all of the totals for the entire loan. For full marks, in your Rough Work please construct the Partial Amortization Schedule for the debt. Show all the totals. Additionally, please fill in the following values here: 1. The size of the Regular Payment (CPT PMT). 2. The Principal Portion of the Final Payment. 3. The Interest Portion of the Final Payment. 4. The Final Payment amount. 5. The Total of All Interest Paid for the full loan. 6. The Total of All Payments for the full loan. Blank # 1
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