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You want to borrow $100,000 for five years when the interest rate is 5%. You will make yearly payments of $23,097.48 for five years. Fill in the blanks in the amortization table below. Assume that the loan was created on January 1, 2018 and totally repaid by December 31, 2022, after five equal, annual payments. year1.       100,000           23,097.48   year2.                                 23,097.48   year3                                  23,097.48   year4                                  23,097.48   year5                                  23,097.48

You want to borrow $100,000 for five years when the interest rate is 5%. You will make yearly payments of $23,097.48 for five years. Fill in the blanks in the amortization table below. Assume that the loan was created on January 1, 2018 and totally repaid by December 31, 2022, after five equal, annual payments. year1.       100,000           23,097.48   year2.                                 23,097.48   year3                                  23,097.48   year4                                  23,097.48   year5                                  23,097.48

Essentials Of Investments
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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You want to borrow $100,000 for five years when the interest rate is 5%. You will make yearly payments of $23,097.48 for five years. Fill in the blanks in the amortization table below. Assume that the loan was created on January 1, 2018 and totally repaid by December 31, 2022, after five equal, annual payments.

year1.       100,000           23,097.48

 

year2.                                 23,097.48

 

year3                                  23,097.48

 

year4                                  23,097.48

 

year5                                  23,097.48

Beginning Cash Interest To Ending balance payment expense principle Balance Date
Transcribed Image Text:Beginning Cash Interest To Ending balance payment expense principle Balance Date
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