Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 Fill out the amortization schedule below. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 $______ $_______ $_______ $_____
Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 Fill out the amortization schedule below. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 $______ $_______ $_______ $_____
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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Question
Given the annual interest rate and a line of an amortization schedule for that loan, complete
the next line of the schedule. Assume that payments are made monthly.
|
Annual Interest Rate
|
Payment
|
Interest Paid
|
Paid on Principal
|
Balance
|
|
|---|---|---|---|---|---|
|
5.4%
|
$289.80
|
$21.30
|
$268.50
|
$4,464.20
|
|
Fill out the amortization schedule below.
|
Annual Interest Rate
|
Payment
|
Interest Paid
|
Paid on Principal
|
Balance
|
|
|---|---|---|---|---|---|
|
5.4%
|
$289.80
|
$21.30
|
$268.50
|
$4,464.20
|
|
|
|
$______
|
$_______
|
$_______
|
$_____
|
(Round to nearest cent as needed)
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