Question: Task 5 Complete an amortization schedule for a 120,000 loan to be repaid in equal installments at the end of each of the next 4

Task 5 Complete an amortization schedule for a 120,000 loan to

Task 5 Complete an amortization schedule for a 120,000 loan to be repaid in equal installments at the end of each of the next 4 years. The interest rate is 3.5%, compounded annually. Year Payment Beginning balance Interest Principal repayment Ending balance 1 2 3 4 (Show the calculation of the payment in the space provided below)

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