Amortization schedule

Loan amount to be repaid $($PV$)$ $$49,000\mathrm{.}00$

Interest rate $($r$)8\mathrm{.}00\%$

Length of loan $($in years$)3$

a$.$ Setting up amortization table Formula

Calculation of loan payment #N$/$A

Year Beginning Balance Payment Interest Repayment of Principal Remaining Balance

$1$

$2$

$3$

b$.$ Calculating $\%$ of Payment Representing Interest and Principal for Each Year

Year Payment $\%$ Representing Interest Payment $\%$ Representing Principal Check: Total $=100\%$

$1$

$2$

$3$

Formulas

Year Beginning Balance Payment Interest Repayment of Principal Remaining Balance

$1$ #N$/$A #N$/$A #N$/$A #N$/$A #N$/$A

$2$ #N$/$A #N$/$A #N$/$A #N$/$A #N$/$A

$3$ #N$/$A #N$/$A #N$/$A #N$/$A #N$/$A

b$.$ Calculating $\%$ of Payment Representing Interest and Principal for Each Year

Year Payment $\%$ Representing Interest Payment $\%$ Representing Principal Check: Total $=100\%$

$1$ #N$/$A #N$/$A #N$/$A

$2$ #N$/$A #N$/$A #N$/$A

$3$ #N$/$A #N$/$A #N$/$A