Please answwer the 3 because they are related...Construct an amortization schedule for a $1,000, 5% annual rate loan with 3 equal payments. The first payment will be made at the end of the1st year. Find the required annual payments $355.8 $367.2 $388.0 $390.7 Based on the information from Question 35, what’s the ending balance of the amortized loan at the end of the third year $0 $349.7 $388.3 $682.8Based on the information from Question 35 and 36, calculate the total amount of interests you should pay for the amortized loan in three years. $28.8 $55.4 $80.0 $101.6

Information Provided: Loan value = $1000 Annual rate = 5% Number of payments = 3

Answered: 5% annual rate loan with 3 equal…

5% annual rate loan with 3 equal payments. The first payment will be made at the end of the1st year. Find the required annual payments

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 12P

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Concept explainers

Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.

Question

Please answwer the 3 because they are related...

Construct an amortization schedule for a $1,000, 5% annual rate loan with 3 equal payments. The first payment will be made at the end of the1^st year. Find the required annual payments

		$355.8
		$367.2
		$388.0
		$390.7

Based on the information from Question 35, what’s the ending balance of the amortized loan at the end of the third year

		$0
		$349.7
		$388.3
		$682.8

Based on the information from Question 35 and 36, calculate the total amount of interests you should pay for the amortized loan in three years.

		$28.8
		$55.4
		$80.0
		$101.6

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