PV $5000,N=5,i=9,$ PMT $=1285,46$

$4.$ Amortized Loans

Each payment covers the interest expense plus reduces principal.

Consider a $$5,000,5$ year loan at $9\%$ interest.

$\backslash$table$[[$Year$,\backslash$table$[[$Beginning$],[$Balance$]],\backslash$table$[[$Total$],[$payment$]],\backslash$table$[[$Interest$],[$paid$]],\backslash$table$[[$Principal$],[$Paid$]],\backslash$table$[[$Ending$],[$balance$]]],[1,5,000,1285,46,450,835,46,4,164,54$