Question: Loan Amortization Schedule Required: a) Construct a full amortization schedule for the scenerio below. Details to include pmt #, payment amount, interest portion, principal portion
Loan Amortization Schedule Required: a) Construct a full amortization schedule for the scenerio below. Details to include pmt #, payment amount, interest portion, principal portion and principal balance. Start with payment and the original principal balance. b) Determine how much interest was paid over the term of the loan. Details: RBC has provided a $60,000 loan to Capilano Construction Inc. that earns interest at a rate of 1.5% compounded monthly. The loan is to be paid back in equal payments at the end of each month over a two year term. i= I/Y P/Y C/Y N PV FV PMT Pmt # Payment Interest Portion Principal Portion Principal Balance
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