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Amortization Schedule Year Beginning Balance 1 $100 Total Interest Principal Ending Payment Paid $1,000 $263.80 Paid Balance $163.80 $836.20 2 $836.20 $263.80 $83.62 $180.18 $656.02 Interest paid = $1,000 x 0.10 = $100 LJ

Amortization Schedule Year Beginning Balance 1 $100 Total Interest Principal Ending Payment Paid $1,000 $263.80 Paid Balance $163.80 $836.20 2 $836.20 $263.80 $83.62 $180.18 $656.02 Interest paid = $1,000 x 0.10 = $100 LJ

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Amortization Schedule Year Beginning Balance 1 $100 Total Interest Principal Ending Payment Paid $1,000 $263.80 Paid Balance $163.80 $836.20 2 $836.20 $263.80 $83.62 $180.18 $656.02 Interest paid = $1,000 x 0.10 = $100 LJ
Transcribed Image Text:Amortization Schedule Year Beginning Balance 1 $100 Total Interest Principal Ending Payment Paid $1,000 $263.80 Paid Balance $163.80 $836.20 2 $836.20 $263.80 $83.62 $180.18 $656.02 Interest paid = $1,000 x 0.10 = $100 LJ
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