Question: B D E 1 Loan Amortization Schedule 2 3 Required: a) Construct a full amortization schedule for the scenerio below. Details to include pmt #,

B D E 1 Loan Amortization Schedule 2 3 Required: a) Construct a full amortization schedule for the scenerio below. Details to include pmt #, 5 payment amount, interest portion, principal portion and principal balance. Start with 7 payment and the original principal balance. 8 9 b) Determine how much interest was paid over the term of the loan. 10 11 Details: 12 13 Kirkland Corporation obtained a $20,000 loan for a new business venture. The loan contract 14 requires payments at the end of each quarter including interest at 9% compounded semi- 15 annually. The loan is to be repaid by equal quarterly payments over a three year term. 16 17 18 compounding 19 1/Y 20 P/Y 21 C/Y 22 N NOM C/Y EFF 23 PV 24 FV 25 PMT 26 27 28 Pmt # payment NOM C/Y EFF Payment Interest Portion Principal Portion Principal Balance 20

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