Find the amortization table for a $8,000 loan amortized in five annual payments if the interest rate is 4.3% per year compounded annually. (Round your answers to the nearest cent.) End of Period Repayment Made Interest Charged Payment Toward Principal Outstanding principle 0       8,000 1         2         3         4         5

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
icon
Related questions
Question

Find the amortization table for a $8,000 loan amortized in five annual payments if the interest rate is 4.3% per year compounded annually. (Round your answers to the nearest cent.)

End of
Period
Repayment
Made
Interest
Charged
Payment
Toward
Principal
Outstanding principle
0       8,000
1        
2        
3        
4        
5        
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Mortgage Amortization
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Corporate Fin Focused Approach
Corporate Fin Focused Approach
Finance
ISBN:
9781285660516
Author:
EHRHARDT
Publisher:
Cengage