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Your wealthy aunt has agreed to loan you the funds necessary to purchase a successful business in your community. The negotiated purchase price is $2
Your wealthy aunt has agreed to loan you the funds necessary to purchase a successful business in your community. The negotiated purchase price is $2 million and the loan terms agreed on by you and your aunt are: . 7.00 percent annual rate of interest 10-year loan term Semi-annual payments per year . Fifteen percent down payment Please complete all of the blank cells in the amortization schedule that appears below for the first four payments made on the loan. Use the constant principal payment method when completing the amortization schedule Report all numbers as whole dollars and do not include the $ sign nor the comma separator. Payment Beginning Principal Interest Payment Principal Payment Number Balance Total Payment 1 2 3 4
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