Complete the first three lines of an amortization schedule for the following loan. Assume monthly payments. amount, $6000; rate, 18%; time, eighteen months Fill out the amortization schedule below, assume monthly payments and round all values to the nearest cent. Payment Amount of Interest Applied to Number Payment Payment Principal 123 $ $ $ $ $ $ Balance $6000

Complete the first three lines of an amortization schedule for the following loan. Assume monthly payments. amount, $6000; rate, 18%; time, eighteen months Fill out the amortization schedule below, assume monthly payments and round all values to the nearest cent. Payment Amount of Interest Applied to Number Payment Payment Principal 123 $ $ $ $ $ $ Balance $6000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Complete the first three lines of an amortization schedule for the following loan. Assume monthly payments.
amount, $6000; rate, 18%; time, eighteen months
Fill out the amortization schedule below, assume monthly payments and round all values to the nearest cent.
Payment Amount of Interest Applied to
Number
Payment
Payment
Principal
123
$
$
LA GA
$
$
$
GALA
$
$
$
Balance
$6000
$
$
$

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Step 3: Calculation of second line of the amortization schedule

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