Question

Construct an amortization schedule for a $1,000, 8% annual rate loan with 3 equal payments. The first payment will be made at the end of the1st year. Find the required annual payments

$355.8 |
||

$367.2 |
||

$388.0 |
||

$390.7 |

Based on the information from above, what’s the ending balance of the amortized loan at the end of the second year

$0 |
||

$359.4 |
||

$388.3 |
||

$682.8 |

Based on the information from above, calculate the total amount of interests you should pay for the amortized loan in three years

$28.8 |
||

$55.4 |
||

$80.0 |
||

$164.2 |

Answer #1

The Answer for first part of question is Option C

The answer for second part of question is Option-A

The answer for last part of question is option-d

I have attached the explanation of answer through picture

Construct an amortization schedule for a $1,000, 8% annual rate
loan with 3 equal payments. The first payment will be made at the
end of the1st year. Find the required annual payments
$355.8
$367.2
$388.0
$390.7
Based on the information from Question 37, what’s the ending
balance of the amortized loan at the end of the second year
$0
$359.4
$388.3
$682.8
Based on the information from Question 37 and 38, calculate the
total amount of interests you should pay...

Construct an amortization schedule for a $1,000, 8% annual rate
loan with 3 equal payments. The first payment will be made at the
end of the1st year. Find the required annual payments (Why is D the
correct answer?)
a)$367.2
b) $355.8
c) $367.2
d) $388.0
e)$390.7

Construct an amortization schedule for a $20,000, 3.45% annual
rate loan with 3 equal payments. Please complete the
schedule below as you see fit.
Year Beg.
Balance
Payment Interest Principal End
Balance

Loan amortization schedule Personal Finance Problem Joan
Messineo borrowed $49,000 at a 3% annual rate of interest to be
repaid over 3 years. The loan is amortized into three equal,
annual, end-of-year payments.
a. Calculate the annual, end-of-year loan payment.
b. Prepare a loan amortization schedule showing the interest
and principal breakdown of each of the three loan payments.
c. Explain why the interest portion of each payment declines
with the passage of time.
a. The amount of the equal,...

Loan amortization schedule Personal Finance
Problem Joan Messineo borrowed 41,000
at a 4% annual rate of interest to be repaid over 3 years. The
loan is amortized into three equal, annual, end-of-year
payments.
a. Calculate the annual, end-of-year loan
payment.
b. Prepare a loan amortization schedule
showing the interest and principal breakdown of each of the three
loan payments.
c. Explain why the interest portion of each
payment declines with the passage of time.

Construct the amortization schedule for a $19,000.00 debt that
is to be amortized in 12 equal semiannual payments at 5.5%
interest per half-year on the unpaid balance. Fill out the
amortization schedule below. Round all values to the nearest
cent.
Payment Number
Payment
Interest
Unpaid Balance Reduction
Unpaid Balance
0

Construct an amortization schedule for a six-year, RM20,000 loan
at 7% interest compounded annually
a) If the first payment is made one year from now.
Ans: P = RM 4,195.92
b) If the first payment is made immediately.
Ans: P = RM 3,921.42

?Joan Messineo borrowed $16,000at a15%annual
rate of interest to be repaid over 3 years. The loan is amortized
into three? equal, annual,? end-of-year paymen
a.??Calculate the? annual, end-of-year loan
payment.
b.??Prepare a loan amortization schedule
showing the interest and principal breadown of each of the three
loan payments.
c. Explain why the interest portion of each
payment declines with the passage of time.
?Show calculations

Construct an amortization table for a five year loan of $5,000
with an interest rate of 3.75%. Assume payments are made once a
year, at the end of the year.

Prepare an amortization schedule for a seven year loan of
$90,000. The interest rate is 4% per year, and the loan calls for
equal annual payments (see example in book, do not use the monthly
amortization schedule from Canvas). Using the information from the
amortization schedule (which you must include with your answers),
please answer the following questions.
A. How much total interest is paid over the life of the
loan?
B. How much interest will be paid during the...

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