Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 18 Aug 2017 My Price 6.00

amortization schedule

Prepare an amortization schedule for a three-year loan of $84,000. The interest rate is 9 percent per year, and the loan agreement calls for a principal reduction of $28,000 every year. How much total interest is paid over the life of the loan? (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Leave no cells blank. You must enter '0' for the answer to grade correctly.)

  

Year

Beginning
Balance

Total
Payment

Interest
Payment

Principal
Payment

Ending
Balance

1

$  

$  

$  

$  

$  

2

  

  

  

  

  

3

  

  

  

  

  
           
    Total interest $  

 

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 11:08 PM My Price 6.00

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