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: Year Beginning Balance 5,000,000.00 Instruction: Prepare the amortization table below. Quarter 16% Quarterly Payment 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: Year Beginning Balance 5,000,000.00 Instruction: Prepare the amortization table below. Quarter 16% Quarterly Payment 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
Related questions
Question
![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
16%
Quarterly
Instruction: Prepare the amortization table below.
Q2
Q3
Q4
2024 Q1
Q2
Q3
Q4
Year Quarter Payment
Beginning Balance
2020 Q1
Q2
Q3
Q4
2021 Q1
Q2
Q3
Q4
2022 Q1
Q2
Q3
Q4
2023 Q1
Interest
Principal Balance
5,000,000.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F16c63b62-1169-4ec8-ae6e-e5a281c89385%2F3f306c48-8456-4d60-b244-6fcfa3c82fdd%2Fyc66a7_processed.jpeg&w=3840&q=75)
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
16%
Quarterly
Instruction: Prepare the amortization table below.
Q2
Q3
Q4
2024 Q1
Q2
Q3
Q4
Year Quarter Payment
Beginning Balance
2020 Q1
Q2
Q3
Q4
2021 Q1
Q2
Q3
Q4
2022 Q1
Q2
Q3
Q4
2023 Q1
Interest
Principal Balance
5,000,000.00
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Foundations Of Finance](https://www.bartleby.com/isbn_cover_images/9780134897264/9780134897264_smallCoverImage.gif)
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
![Fundamentals of Financial Management (MindTap Cou…](https://www.bartleby.com/isbn_cover_images/9781337395250/9781337395250_smallCoverImage.gif)
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
![Corporate Finance (The Mcgraw-hill/Irwin Series i…](https://www.bartleby.com/isbn_cover_images/9780077861759/9780077861759_smallCoverImage.gif)
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education