A Loan amounting to PHP150,000 was secred dated, January 1, 2016. the loan will be paid by means of 12 equal payments to be made at the end of each month, with the first payment due on january 31, 2016. The interest rate is 12% compounded monthly. Construct a table showing the amortization of the loan.

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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.