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3. Amortization Schedule. Use Excel and calculator. You decide to buy a new BMW that costs $50,000. You want to borrow all the money at a 7.5% (annual) interest rate. You want to pay it in 5 years. Find your yearly payment and fill in the amortization schedule below. Schedule of Payments Pmt Beginning Paymen How much of your Payment goes out as interest? balance t 0 1 2 3 6 $50,000 How much of your payment goes to your principal? Balanc $50,000

3. Amortization Schedule. Use Excel and calculator. You decide to buy a new BMW that costs $50,000. You want to borrow all the money at a 7.5% (annual) interest rate. You want to pay it in 5 years. Find your yearly payment and fill in the amortization schedule below. Schedule of Payments Pmt Beginning Paymen How much of your Payment goes out as interest? balance t 0 1 2 3 6 $50,000 How much of your payment goes to your principal? Balanc $50,000

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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3. Amortization Schedule. Use Excel and calculator. You decide to buy a new BMW that costs $50,000. You want to borrow all the money at a 7.5% (annual) interest rate. You want to pay it in 5 years. Find your yearly payment and fill in the amortization schedule below. Schedule of Payments Pmt Beginning Paymen How much of your Payment goes out as interest? # balance L 0 1 2 3 4 5 $50,000 How much of your Payment Balanc goes to your principal? e $50,000
Transcribed Image Text:3. Amortization Schedule. Use Excel and calculator. You decide to buy a new BMW that costs $50,000. You want to borrow all the money at a 7.5% (annual) interest rate. You want to pay it in 5 years. Find your yearly payment and fill in the amortization schedule below. Schedule of Payments Pmt Beginning Paymen How much of your Payment goes out as interest? # balance L 0 1 2 3 4 5 $50,000 How much of your Payment Balanc goes to your principal? e $50,000
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