You have taken a loan of $95,000.00 for 27 years at 5.5% compounded quarterly. Fill in the table below(Round all answers to 2 decimal places.)Payment number Payment amount Principal Amount Interest0)1)2)3)$$50s✔Balance$95,000.00$

Given Loan amount is $95000 Term is 27 years Rate is 5.5%

Answered: You have taken a loan of $95,000.00 for…

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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You have taken a loan of $95,000.00 for 27 years at 5.5% compounded quarterly. Fill in the table below (Round all answers to 2 decimal places.) Payment number Payment amount Principal Amount Interest 0) 1) 2) 3) 5 s 5 Balance $95,000.00 $