Your company is going to purchase new equipment with a price of 500,000, which the manufacturer is willing to finance, and you are trying to work out a payment schedule Due to cash flow needs elsewhere in your company , your payment budget per month is $12,000 After 36 months , you have the ability add a balloon payment of up to 32,000however the manufacturer will only allow a balloon payment with your last monthly payment . will not allow you to make smaller additional principal payments before 12 months, but you can afford to some extra payment , say 950 every month from the 13 ^ (ih) month because you will expect your company's income to increase after one year So from the month , additional principal amount must be the same amount each month other than with the last payment , when the company can make the large balloon payment . You have the choice to finance for 36, 48 60 months , at an annual interest rate of 7.10\% But you want to pay of the loan as quickly as possible Create the full amortization schedule including any additional payment , such as the balloon payment )Stop the schedule with the month that has a beginning balance of zero , and show only the beginning balance for that month on the schedule (meaning don't show payments for that month )

I need to understand how to make the balance payment as though the final balance would be 0.