Question: (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

(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. d.Find principal payment for first month. e.Find ending balance for first month L.Find Total monthly payment Note: Total monthly payment = monthly payment x number of payments = g-Total interest payment = total monthly payment - total principal payment h. Construct an amortization schedule. (ie fill blank cells.) Quarter Beginning Quarterly Interest Balance Payment Payment 1 2 Principal Payment Ending Balance 8 Total

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