Question: 1. Construct an amortization schedule for a s1,000, 128 nominal rate loan with 24 month equal payments. Fill blank cells. Month Beginning MonthlyInterest PrincipalEnding Balance

1. Construct an amortization schedule for a s1,000, 128 nominal rate loan with 24 month equal payments. Fill blank cells. Month Beginning MonthlyInterest PrincipalEnding Balance Payment Payment Payment Balance 24 Total a. Find monthly payment: b. Find interest payment: periodic rate- interest payment c. Find principal payment: monthly payment interest payment - d. Ending balance beginning balance principal payment e. Total monthly monthly payment x 24 - f. Total interest payment total monthly payment total princtpal payment

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Please answer all of it. If not, please skip! Also SHOW WORK Please! 7. You want to purchase an automobile for $24,172. The dealer offers you 0% financing for 48 months or a $4,371 rebate You can...

QUESTION 1 Construct an amortization schedule for a $100, 12% nominal rate loan with 8 quarter equal payments. a. Find quarterly payment: b. Find periodic rate c.Find interest payment for first...

3.4.57-BE Question An ordinary annuly pays 6.20% compounded monthly A) A person depos 1200 monthly for 10 years and then make a monthly withdwww for the nel 15 years, reducing the balance in a What...

i just need the financial statement (last 3 photos) i have a lot of trouble getting it done 6 8 Jan 1 Data for Budget Assignment Master Budget Case for Altec Manufacturing Inc 3 fiscal year end...

Question 3 Your local bank has offered you a mortgage loan of $210,000 with a flat processing cost of $1,260 and an origination fee of 1.00% of the loan amount. These costs and fees are deducted from...

Sadik Industries must install $1 million of new machinery in its Texas plant. It can obtain a bank loan for 100% of the required amount. Alternatively, a Texas investment banking firm that represents...

Can someone please help with this project? Please use the same columns used in the pictures and PLEASE show formulas used. Also need assistance with calculating the monthly payment F13 fx A D E H K 1...

(10 points) Construct an amortization schedule for a $200,8% nominal rate loan with 8 quarter equal payments. a.Find quarterly payment: b.Find periodic rate c.Find interest payment for first quarter....

1 Using the following tinancial data, complete the balance sheet and sales information. All calculations based on a 3 6 5 day year. Using information from the Balance Sheet tab of the attached Excel...

6. The diagram below shows the yield strength and density values of several classes of metallic alloys. 2000- 1000 Aluminum aloys Copper aloys Magnesium albys 500 20 Ttanium aloys 100- Brass 50- 20-...

Give four duties of an agriculture graduate. Discuss the competencies required for the said duties?

General Medical Center bought equipment on January 2 for $ 1 5 , 0 0 0 . The equipment was expected to remain in service for four years and to perform 4 8 0 operations. At the end of the equipment's...

Add "Viggo Mortenslet cast = new Map ( ) ;en " to the cast as the key, with value "Aragorn".