A loan of $92,800.00 is repaid by equal payments made at the end of every three months for 3 years. If interest is 8% compounded quarterly, find the size of the quarterly payments and construct an...


A loan of $92,800.00 is repaid by equal payments made at the end of every three months<br>for 3 years. If interest is 8% compounded quarterly, find the size of the quarterly payments and construct an<br>amortization schedule showing the payment number, amount paid, interest paid, principal repaid and outstanding<br>principal balance of each payment. Additionally, include the totals for amount paid, interest paid and principal<br>repaid of the loan.<br>

Extracted text: A loan of $92,800.00 is repaid by equal payments made at the end of every three months for 3 years. If interest is 8% compounded quarterly, find the size of the quarterly payments and construct an amortization schedule showing the payment number, amount paid, interest paid, principal repaid and outstanding principal balance of each payment. Additionally, include the totals for amount paid, interest paid and principal repaid of the loan.

Jun 03, 2022
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