Question: Question: example 3.1 is modified so that monthly payments are made for 12 years starting one month after the loan the monthly payment is k
Question: example 3.1 is modified so that monthly payments are made for 12 years starting one month after the loan the monthly payment is k for the first 6 years (72 payments) and 2k for the last 6 years (72 payments)
ex.) 3.1 for reference: a loan of amount 1000 at a nominal annual interest rate of 12% compounded monthly is repaid by 6 monthly payments starting one month after the loan is made the first three payments are amount x each and the final three payments are amount 2x each construct the amortization schedule for this loan
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