You have taken a loan of $6,000.00 for 3 years at 2.9% compounded monthly. Fill in the table below: (Round all answers to 2 decimal places.) Payment number Payment amount Principal Amount Interest Balance 0) $6,000.00 1) 2) 3)

You have taken a loan of $6,000.00 for 3 years at 2.9% compounded monthly. Fill in the table below: (Round all answers to 2 decimal places.) Payment number Payment amount Principal Amount Interest Balance 0) $6,000.00 1) 2) 3)

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 $6,000.00 for 3 years at 2.9% compounded monthly. Fill in the table below: (Round
all answers to 2 decimal places.)
Payment number Payment amount Principal Amount Interest
Balance
0)
$6,000.00
1)
$
2)
3)
$
$

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