Question: Loan Amortization Schedule Required: a) Construct an full amortization schedule for the scenerio below. Details to include pmt #, payment amount, interest portion and principal
Loan Amortization Schedule Required: a) Construct an full amortization schedule for the scenerio below. Details to include pmt #, payment amount, interest portion and principal portion. b) Determine how much interest was paid over the term of the loan. Details: RBC has provided a $120,000 loan to Capilano Construction Inc. that earns interest at a rate of 2.5% compounded monthly. The loan is to be paid back in equal payments at the end of each month over a two year term. I/Y P/Y C/Y N PV FV PMT Pmt # Payment Interest Portion Principal Portion Principal Balance
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