Question: 1. Exercise One: You approve a fixed total annual payment loan for a small business owner -businesses like fixed payments to limit their future liabilities.
1. Exercise One: You approve a fixed total annual payment loan for a small business owner -businesses like fixed payments to limit their future liabilities. The loan amount is $5000, the duration of the loan is five years, and the interest rate is 9.75%. (a) Compute the fixed annual payment for this loan using the PMT function as shown in class, (b) Create an amortization schedule for this company, (c) Using a bar chart, graph the cash flows (i.e. Total Payment, Interest Paid, and Principal Paid) on the y-axis versus time on the x-axis, (d) Add data labels to your series, so that your customer can easily visualize the data
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