Question

Set up an amortization schedule for a $30,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 10% compounded annually. How much repayment of principal was included in the first payment?

Answer #1

After 3 year the total payment will be =

Future Value = $30,000 ( 1 + 0.10)^{3}

Future Value = $30,000 * 1.331

**Future Value = $39,930**

**The total Payment made after 3 years amounting to
$39,930.**

**In first Year Total payment made including Interest =
$39,930 /PVAF(10%,3) = $39,930 /2.4868 = 16056.779**

Amortisation Schedule | |||||

Year | Opening Balance | Installment | Principal | Interest | Closing Balance |

1 | 39930.00 | 16059.78 | 12066.78 | 3993.00 | 27863.22 |

2 | 27863.22 | 16059.78 | 13273.46 | 2786.32 | 14589.76 |

3 | 14589.76 | 16059.78 | 14600.80 | 1458.98 | 0.00 |

a. Complete an amortization schedule for a $28,000 loan to be
repaid in equal installments at the end of each of the next three
years. The interest rate is 11% compounded annually. Round all
answers to the nearest cent.
Beginning
Repayment
Ending
Year
Balance
Payment
Interest
of Principal
Balance
1
$
$
$
$
$
2
$
$
$
$
$
3
$
$
$
$
$

Complete an amortization schedule for a $28,000 loan to be
repaid in equal installments at the end of each of the next three
years. The interest rate is 10% compounded annually. If an amount
is zero, enter "0". Do not round intermediate calculations. Round
your answers to the nearest cent.
Beginning
Repayment
Ending
Year
Balance
Payment
Interest
of Principal
Balance
1
$
$
$
$
$
2
3
What percentage...

Complete an amortization schedule for a $19,000 loan to be
repaid in equal installments at the end of each of the next three
years. The interest rate is 10% compounded annually. If an amount
is zero, enter "0". Do not round intermediate calculations. Round
your answers to the nearest cent.
Beginning
Repayment
Ending
Year
Balance
Payment
Interest
of Principal
Balance
1
$
$
$
$
$
2
3
What percentage...

Amortization Schedule
Consider a $50,000 loan to be repaid in equal installments at
the end of each of the next 5 years. The interest rate is 9%.
Set up an amortization schedule for the loan. Round your
answers to the nearest cent. Enter "0" if required
Year
Payment
Repayment Interest
Repayment of Principal
Balance
1
$
$
$
$
2
$
$
$
$
3
$
$
$
$
4
$
$
$
$
5
$
$
$
$
Total...

Complete an amortization schedule for a $30,000 loan to be
repaid in equal installments at the end of each of the next three
years. The interest rate is 9% compounded annually. If an amount is
zero, enter "0". Do not round intermediate calculations. Round your
answers to the nearest cent.
Beginning
Repayment
Ending
Year
Balance
Payment
Interest
of Principal
Balance
1
$
$
$
$
$
2
3
What percentage...

Complete an amortization schedule for a $25,000 loan to be
repaid in equal installments at the end of each of the next three
years. The interest rate is 11% compounded annually. Round all
answers to the nearest cent.
Beginning
Repayment
Ending
Year
Balance
Payment
Interest
of Principal
Balance
1
$
$
$
$
$
2
$
$
$
$
$
3
$
$
$
$
$
b. What percentage of the payment represents interest and what
percentage represents principal for...

a. Complete an amortization schedule for a $28,000 loan to be
repaid in equal installments at the end of each of the next three
years. The interest rate is 12% compounded annually. Round all
answers to the nearest cent.
Beginning
Repayment
Ending
Year
Balance
Payment
Interest
of Principal
Balance
1
$
$
$
$
$
2
$
$
$
$
$
3
$
$
$
$
$
b. What percentage of the payment represents interest and what
percentage represents principal...

a. Complete an amortization schedule for a $13,000 loan to be
repaid in equal installments at the end of each of the next three
years. The interest rate is 12% compounded annually. Round all
answers to the nearest cent.
Beginning
Repayment
Ending
Year
Balance
Payment
Interest
of Principal
Balance
1
$
$
$
$
$
2
$
$
$
$
$
3
$
$
$
$
$
b. What percentage of the payment represents interest and what
percentage represents principal...

a. Complete an amortization schedule for a $40,000 loan to be
repaid in equal installments at the end of each of the next three
years. The interest rate is 11% compounded annually. Round all
answers to the nearest cent.
Beginning
Repayment
Ending
Year
Balance
Payment
Interest
of Principal
Balance
1
$
$
$
$
$
2
$
$
$
$
$
3
$
$
$
$
$
b. What percentage of the payment represents interest and what
percentage represents principal...

Complete an amortization schedule for a $44,000 loan to be
repaid in equal installments at the end of each of the next 3
years. The interest rate is 10% compounded annually. If an amount
is zero, enter "0". Do not round intermediate calculations. Round
your answers to the nearest cent.
Beginning
Repayment
Remaining
Year
Balance
Payment
Interest
of Principal
Balance
1
$
$
$
$
$
2
3
What percentage...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 11 minutes ago

asked 18 minutes ago

asked 35 minutes ago

asked 44 minutes ago

asked 53 minutes ago

asked 55 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago