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7. Construct a LOAN AMORTIZATION schedule for a 3 year 5% loan of $100, 000. Please show...

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Advance Math

7. Construct a LOAN AMORTIZATION schedule for a 3 year 5% loanof $100, 000.

Please show your calculations clearly and include calculatedanswers in the table below.

(Please only do this question if you are certain how to doit)

Amortization Schedule for a Loan of $100 000 Repaid Over 3Years at 5%
YearPayment amountInterest Paid

Principal repaid

Outstanding loan balance
0
1
2
3

Answer & Explanation Solved by verified expert
3.6 Ratings (423 Votes)
first we need to find a yearly paymentL100000r5 005t3 yearsyearlypaymentfor the first year interest paid isp100000r5 005t 1    See Answer
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