Complete the following Amortization Schedule for a 3-year fully- amortizing $4,000 loan with annual payments at...

 

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Complete the following Amortization Schedule for a 3-year fully- amortizing $4,000 loan with annual payments at an annual interest rate of 4%. Round all numbers out to FOUR DECIMAL PLACES (FOR FULL CREDIT) of the following amortization schedule. GRADING RUBRIC: THE EIGHT NUMBERS USED TO COMPLETE THE INTEREST AND PRINCIPAL COLUMNS (including TOTALS) ARE WORTH 12.5 POINTS EACH! USE CALULATOR FOR PAMENT CALCULATION (OR PVIFA FORMULA BELOW OUT TO FOUR DECIMAL PLACES). NOTE: ONLY HANDWRITTEN WORK ACCEPTED! Annuity present value = Cx (1-Present value factor) =cx{¹-1/(1+ or PVA = PMT [1- 1/1+r)'^t]/r PMT= PVA/PVIF 3 Totals [5.1] Beginning Total Annual Ending Year Balance Payment Interest Principal Balance 1 2 Complete the following Amortization Schedule for a 3-year fully- amortizing $4,000 loan with annual payments at an annual interest rate of 4%. Round all numbers out to FOUR DECIMAL PLACES (FOR FULL CREDIT) of the following amortization schedule. GRADING RUBRIC: THE EIGHT NUMBERS USED TO COMPLETE THE INTEREST AND PRINCIPAL COLUMNS (including TOTALS) ARE WORTH 12.5 POINTS EACH! USE CALULATOR FOR PAMENT CALCULATION (OR PVIFA FORMULA BELOW OUT TO FOUR DECIMAL PLACES). NOTE: ONLY HANDWRITTEN WORK ACCEPTED! Annuity present value = Cx (1-Present value factor) =cx{¹-1/(1+ or PVA = PMT [1- 1/1+r)'^t]/r PMT= PVA/PVIF 3 Totals [5.1] Beginning Total Annual Ending Year Balance Payment Interest Principal Balance 1 2

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SOLUTION To calculate the amortization schedule for a 3year fullyamortizing 4000 loan with annual pa... View the full answer