Question: pls answer ill rate high!! 1) Question 14 Loan amort table V1 updated When taking the question, it would appear as: Raceway Motors Ltd. operates

pls answer ill rate high!! pls answer ill rate high!! 1) Question 14 Loan amort table V1

1) Question 14 Loan amort table V1 updated When taking the question, it would appear as: Raceway Motors Ltd. operates a private racetrack in Western Canada where owners of high end sport and luxury cars can test their driving skills in a controlled environment. To finance the purchase of additional land required to add a second track to their operation, the company borrowed $900,000 from their local bank. The loan is for 10 years, with an interest rate of 7% and requires blended payments of $10,450 (including both interest and principal) to be made each month. The loan is disbursed on August 1, 2020 and the first payment is required on September 1, 2020. The following is an extract from the loan amortization table: Date Beginning Payment Interest Principal Ending Loan Loan Balance Balance Sept 1. 2020 900,000.00 10.450.00 5,200.00 894,800.00 Oct 1, 2020 894,800.00 10,450.00 5,219.67 B 889,569.67 Nov 1, 2020 889,569.67 10,450.00 5.189.16 5,260.84 Required: Determine the missing amounts. Round all calculations to two decimals. (3 marks - 8 minutes)

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