You have taken a loan of $5,000.00 for 4 years at 3.6% compounded monthly. Fill in the table below: Round all answers to 2 decimal places. Payment number Payment amount Principal Amount Interest Balance 0) $5,000.00 1) $ $ $4 2) $ 3) $ $ %24

You have taken a loan of $5,000.00 for 4 years at 3.6% compounded monthly. Fill in the table below: Round all answers to 2 decimal places. Payment number Payment amount Principal Amount Interest Balance 0) $5,000.00 1) $ $ $4 2) $ 3) $ $ %24

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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Question

You have taken a loan of $5,000.00 for 4 years at 3.6% compounded monthly. Fill in the table
below: Round all answers to 2 decimal places.
Payment number Payment amount Principal Amount Interest
Balance
0)
$5,000.00
1)
$4
2)
%24
%24
%24
%24
%24
%24
%24
3)

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