Question: Loan Amortization Schedule Required: a) Construct a full amortization schedule for the scenerio below. Details to include prt #, payment amount, interest portion, principal portion
Loan Amortization Schedule Required: a) Construct a full amortization schedule for the scenerio below. Details to include prt #, payment amount, interest portion, principal portion and principal balance. Start with payment 0 and the original principal balance. b) Determine how much interest was paid over the term of the loan. Details: Kirkland Corporation obtained a $20,000 loan for a new business venture. The loan contract requires payments at the end of each quarter including interest at 9% compounded semi-annually. The loan is to be repaid by equal quarterly payments over a three year term. I/Y PAY C/Y N PV compounding NOM CAY EFF FV PMT payment NOM C/Y EFF Pmt # Payment Interest Portion Principal Principal
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