The IOU Inc recently took a note on a property for $150,000. The interest is 6%...

 

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The IOU Inc recently took a note on a property for $150,000. The interest is 6% and the monthly payment is $2,000 Prepare the first year's amortization table. Payment # 1 2 3 Etc. Payment $2,000 $2,000 Interest Expense Principle Reduction Balance $150,000 The IOU Inc recently took a note on a property for $150,000. The interest is 6% and the monthly payment is $2,000 Prepare the first year's amortization table. Payment # 1 2 3 Etc. Payment $2,000 $2,000 Interest Expense Principle Reduction Balance $150,000

Answer rating: 100% (QA)

To create an amortization table for the first year of a loan we can use the following formula to cal... View the full answer