Prepare an amortization schedule for a five-year loan of $67,500. The interest rate is 7 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Loan amount $ Interest rate Loan term 67,500 7% 5 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. Loan payment 12345 Year Beginning balance Total payment Interest paid Principal paid Ending balance

Prepare an amortization schedule for a five-year loan of $67,500. The interest rate is 7 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Loan amount $ Interest rate Loan term 67,500 7% 5 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. Loan payment 12345 Year Beginning balance Total payment Interest paid Principal paid Ending balance

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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