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8 Sep 2018
Develop a complete amortization table for a loan of $20,000, to be paid back in 18 uniform monthly installments, based on an interest rate of 6%. The amortization table should include the following column headings : Payment number, principal owed, interest owed, principal paid and balance due monthly payment. (6% is the annual percentage rate (APR); also âBalance due monthly paymentâ is the monthly payment amount)
***You must also show the calculations used to calculate each column of the table.
(PLEASE BE CLEAR AND SHOW WORK)
Develop a complete amortization table for a loan of $20,000, to be paid back in 18 uniform monthly installments, based on an interest rate of 6%. The amortization table should include the following column headings : Payment number, principal owed, interest owed, principal paid and balance due monthly payment. (6% is the annual percentage rate (APR); also âBalance due monthly paymentâ is the monthly payment amount)
***You must also show the calculations used to calculate each column of the table.
(PLEASE BE CLEAR AND SHOW WORK)
Deanna HettingerLv2
10 Sep 2018