4) You have a $3000 amortized loan that you will make monthly payments of $1200 to pay off (the last payment will be less). You are borrowing at 7.1% APR. Build the entire amortization schedule. Principal Portion Interest Portion. Payment # 0 1 2 3 Total Payment Balance
4) You have a $3000 amortized loan that you will make monthly payments of $1200 to pay off (the last payment will be less). You are borrowing at 7.1% APR. Build the entire amortization schedule. Principal Portion Interest Portion. Payment # 0 1 2 3 Total Payment Balance
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
Problem 1PS
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M3.
Transcribed Image Text:4) You have a $3000 amortized loan that you will make monthly payments of $1200 to pay off (the last
payment will be less). You are borrowing at 7.1% APR. Build the entire amortization schedule.
Principal Portion
Payment #
0
1
2
3
Interest Portion
Total Payment
Balance
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