On January 1, 2020, a bank have issued a 5-year term loan to a businessman. The following details of the loan are provided as follows: Principal: Interest rate per annum: Repayment structure: 5,000,000.00 Instruction: Prepare the amortization table below. 2020 Q1 Q2 Q3 Q4 2021 Q1 Q2 Q3 Q4 2022 Q1 16% Quarterly Year Quarter Payment Beginning Balance Q2 Q3 Q4 2023 Q1 Q2 Q3 Q4 2024 Q1 Q2 Q3 Q4 Interest Principal Balance 5,000,000.00
On January 1, 2020, a bank have issued a 5-year term loan to a businessman. The following details of the loan are provided as follows: Principal: Interest rate per annum: Repayment structure: 5,000,000.00 Instruction: Prepare the amortization table below. 2020 Q1 Q2 Q3 Q4 2021 Q1 Q2 Q3 Q4 2022 Q1 16% Quarterly Year Quarter Payment Beginning Balance Q2 Q3 Q4 2023 Q1 Q2 Q3 Q4 2024 Q1 Q2 Q3 Q4 Interest Principal Balance 5,000,000.00
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
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:On January 1, 2020, a bank have issued a 5-year term loan to a businessman. The
following details of the loan are provided as follows:
Principal:
Interest rate per annum:
Repayment structure:
5,000,000.00
Instruction: Prepare the amortization table below.
2020 Q1
Q2
Q3
Q4
2021 Q1
Q2
Q3
Q4
2022 Q1
16%
Quarterly
Year Quarter Payment
Beginning Balance
Q2
Q3
Q4
2023 Q1
Q2
Q3
Q4
2024 Q1
Q2
Q3
Q4
Interest
Principal Balance
5,000,000.00
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