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Question

Construct a loan amortization schedule for a 3-year, 11 percent loan of
$30,000. The loan requires three equal, end-of-year payments.

Submitted: 308 days and 12 hours ago.

Category: Finance

Value: $9

Status: CLOSED

Posted by James Heal 308 days and 12 hours ago.

Answer

Thanks for the question.

Principal borrowed: $30000.00
Annual Payments: 1
Total Payments: 3 (3.00 years)
Annual interest rate: 11.00%
Periodic interest rate: 11.0000%
Regular Payment amount: $12276.39
Total Repaid: $36829.17
Total Interest Paid: $6829.17
Interest as percentage of Principal: 22.764%

Pmt Principal Interest Cum Prin Cum Int Prin Bal
1 8976.39 3300.00 8976.39 3300.00 21023.61
2 9963.79 2312.60 18940.18 5612.60 11059.82
3 *11059.82 1216.58 30000.00 6829.18 0.00

I hope this helps - Good Luck !

Pmt	Principal	Interest	Cum Prin	Cum Int	Prin Bal
1	8976.39	3300.00	8976.39	3300.00	21023.61
2	9963.79	2312.60	18940.18	5612.60	11059.82

3	*11059.82	1216.58	30000.00	6829.18	0.00

308 days and 11 hours ago.

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ok........? Please advise.

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Expert:	James Heal
Pos. Feedback:	100.0 %
Answered:	1/18/2009

Financial Advisor

15 years expertise in all ares of personal finance, including credit cards, mortgages, real estate.

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Construct a loan amortization schedule for a 3-year, 11 percent loan of $30,000. The loan requires three equal, end-of-year payments.

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ok........? Please advise.

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Construct a loan amortization schedule for a 3-year, 11 percent loan of
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