Show all work please, thanks! Tamara purchased a new dishwasher from The Bay for $895.94. By placing it on her Bay credit card, she can pay off thedishwasher through a special six-month payment plan promotion that charges her 5.9% compounded monthly. Constructthe complete amortization schedule for Tamara and total her interest charges.Consider that the dishwasher will be financed for 3 years.Interest PaidPrincipal repaidOutstanding principalPayment NumberAmount Paid(Interest portion)(Principal portion)balance

fixed Monthly payment = P*R* ((1+r)^n)/((1+r)^n-1) P= Loan amount R= 5.90%/12= 0.4916% N= 12*0.5= 6…

Answered: Tamara purchased a new dishwasher from…

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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Tamara purchased a new dishwasher from The Bay for $895.94. By placing it on her Bay credit card, she can pay off the dishwasher through a special six-month payment plan promotion that charges her 5.9% compounded monthly. Construct the complete amortization schedule for Tamara and total her interest charges. Consider that the dishwasher will be financed for 3 years.
To help purchase her new truck, Rita is taking out a $19,000 amortized loan for 6 years at 6.5% annual interest. Her monthly payment for this loan is $319.39. 1 Fill in all the blanks in the amortization schedule for the loan. Assume that each month is of a year. Round your answers to the nearest cent. 12 Payment number 1 2 20 21 Interest payment $1 $ $79.52 $0 Principal payment $0 $0 E $239.87 $0 New loan balance $0 $18,565.88 $14,440.35 $0 X 3
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