Construct an amortization schedule for a $1,000, 3.9% annual rate loan with 3 equal payments. The first payment will be made at the end of the 1st year. Find the required annual payments Selected Answer: $356.9 Answers: $356.9   $359.7   $367.2   $370.5     what’s the ending balance of the amortized loan at the end of the first year?   Selected Answer: $678.1 Answers: $650.2   $669.1   $678.1   $679.3

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
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Construct an amortization schedule for a $1,000, 3.9% annual rate loan with 3 equal payments. The first payment will be made at the end of the 1st year. Find the required annual payments

Selected Answer:

$356.9

Answers:

$356.9

 

$359.7

 

$367.2

 

$370.5

 

 

what’s the ending balance of the amortized loan at the end of the first year?

 
Selected Answer:

$678.1

Answers:

$650.2

 

$669.1

 

$678.1

 

$679.3

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