Question
You borrow $400,000 over a 20 year term. The loan is structured as an amortized loan with annual payments and an interest rate of 8%.
You borrow $400,000 over a 20 year term. The loan is structured as an amortized loan with annual payments and an interest rate of 8%. Complete the cells in the amortization schedule below.
| Year | Payment ($) | Interest in Payment ($) | Principal Repaid ($) | Principal Owing at End of Year ($) |
| 1 | ||||
| 2 |
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Investments An Introduction
Authors: Herbert B Mayo
11th Edition
1133936520, 9781133936527
