Question
Use Excel Spreadsheet to prepare an amortization schedule for a three-year loan of $90,000. The interest rate is 11 percent per year, and the loan
Use Excel Spreadsheet to prepare an amortization schedule for a three-year loan of $90,000. The interest rate is 11 percent per year, and the loan calls for equal annual payments. Fill the amortization schedule for Year 1, Year 2, and Year 3. Leave no cells blank. Enter '0' where necessary. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. The system takes rounding errors as mistake, so please DONOT use calculator which may generate rounding errors.)
Year | Beginning Balance | Total Payment | Interest Payment | Principal Payment | Ending Balance |
1 | A | B | C | D | E |
2 | F | G | H | I | J |
3 | K | L | M | N | O |
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