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B C D E F G 6 Epitome Healthcare has just borrowed $1,500,000 on a five-year, annual payment term loan at a 7 15 percent rate. The first payment is due one year from now. Construct the amortization schedule 8 for this loan. 9 10 ANSWER 11 First, the annual payment is found as follows: 12 Annual payment = 13 (You may also use a financial calculator to find the annual payment.) 14 Then, the amortization schedule can be constructed: 15 Beginning Repayment of Remaining 16 Year amount Payment Interest principal balance 17 1 18 2 19 3 20 4 21 5 22 3 UA