PLEASE SHOW FORMULA

1 Step 2: Prepare the Amortization Table

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 PROBLEM 4 step 1: Solve for PMT 3 NPER RATE -5000 PMT Step 2: Prepare the Amortization Table Year 1 2 3 Total (2) (3) Beg Bal PMT $0.00 $ 5,000.00 $0.00 $ 5,500.00 $0.00 $ 6,050.00 Int paid in second year Princ repaid in first 2 years Bal rem at end of Year 1 Int 500.00 550.00 605.00 1,655.00 Princ Repaid Bal Rem (500.00) $ 5,500.00 (550.00) $ 6,050.00 (605.00) $ 6,655.00 (1,655.00) 550.00 (1,050.00) 5,500.00 (4) Total Int Paid