You have taken out a loan of $11,000.00 for 4 years at an APR of 4.6% (loans arealways compounded and paid back monthly). Fill in the table below showing the firstlines of the Armotization Table for this loan rounding all answers to the closest cent(i.e. to 2 decimal places):Payment number Payment amount Principal Amount InterestBalance0)$11,000.001)$$$2)same as above$$3)same as above$$Submit Question

P=principal r= interest rate n=number of payments

Answered: You have taken out a loan of $11,000.00…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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You have taken a loan of $78,000.00 for 20 years at 4.9% compounded quarterly. Fill in the table below, rounding all values to the nearest cent. Note that the principal column is listed before the interest column even though the interest calculation is done first. Many lending institutions use this order in the amortization schedules they provide to their customers. Payment number Payment amount Principal Amount Interest 0) 1) 2) 3) $ S $ $ s Balance $78,000.00 $
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