Prepare an amortization schedule for a three-year loan of $108,000. The interest rate is 9 percent per year and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Beginnig Total Interest Principal Ending balance payment payment payment balance

Prepare an amortization schedule for a three-year loan of $108,000. The interest rate is 9 percent per year and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Beginnig Total Interest Principal Ending balance payment payment payment balance

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 41P

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Beginnig Total Interest Principal Ending

balance payment payment payment balance

Total interest_____________________

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