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| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 1 Day Ago |
| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
AMORTIZATION SCHEDULE
a.       Set up an amortization schedule for a $25,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 10% compounded annually.
b.      What percentage of the payment represents interest and what percentage represents principal for each of the 3 years? Why do these percentages change over time?
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