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Category > Business & Finance Posted 22 May 2017 My Price 7.00

Bob Jones bought a new log cabin for $70,000 at 11% interest for 30 years.

Bob Jones bought a new log cabin for $70,000 at 11% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.)
 

Portion toAc€??

  
Payment number Interest Principal Balance of loan outstanding
1    $ 641.67    $    $
2 $    $    $
3 $    $    $
 

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Alpha Geek
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Status NEW Posted 22 May 2017 07:05 AM My Price 7.00

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file 1495439665-Answer.docx preview (82 words )
B-----------ob -----------Jon-----------es -----------bou-----------ght----------- a -----------new----------- lo-----------g c-----------abi-----------n f-----------or -----------$70-----------,00-----------0 a-----------t 1-----------1% -----------int-----------ere-----------st -----------for----------- 30----------- ye-----------ars-----------. P-----------rep-----------are----------- an----------- am-----------ort-----------iza-----------tio-----------n s-----------che-----------dul-----------e f-----------or -----------the----------- fi-----------rst----------- th-----------ree----------- pe-----------rio-----------ds.----------- (U-----------se -----------Tab-----------le -----------15.-----------1.)----------- (-----------Do -----------not----------- ro-----------und----------- in-----------ter-----------med-----------iat-----------e c-----------alc-----------ula-----------tio-----------ns.----------- Ro-----------und----------- yo-----------ur -----------fin-----------al -----------ans-----------wer-----------s t-----------o t-----------he -----------nea-----------res-----------t c-----------ent-----------.) ----------- Po-----------rti-----------on -----------toA-----------câ‚-----------¬??----------- Pa-----------yme-----------nt -----------num-----------ber----------- In-----------ter-----------est----------- Pr-----------inc-----------ipa-----------l B-----------ala-----------nce----------- of----------- lo-----------an -----------out-----------sta-----------ndi-----------ng ----------- 1 ----------- Â-----------  $----------- 64-----------1.6-----------7 Â----------- Â ----------- $ ----------- Â-----------  $----------- 2----------- $ ----------- Â-----------  $-----------  -----------  -----------$ -----------3 $-----------  -----------  -----------$ Â----------- Â ----------- $ ----------- An-----------swe-----------r: ----------- E-----------MI=-----------[PÃ-----------—rÃ-----------—(1-----------+r)-----------^n]-----------÷[-----------(1+-----------r)^-----------n-1-----------]
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