LN_6_Loan Amortization - $24,680 7 $24,680 $7,451 $1,974...

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EQ 23 Amortized Loan with Fixed Payment: r 8% PV $50,000 T 10 C $7,451 Amortization Table r=8% Column (1) Column (2) Column (3) Column (4) Column (5) Beginning Total Interest Principal Ending Year Balance Payment Paid Paid Balance 1 $50,000 $7,451 $4,000 $3,451 $46,549 2 $46,549 $7,451 $3,724 $3,728 $42,821 3 $42,821 $7,451 $3,426 $4,026 $38,795 4 $38,795 $7,451 $3,104 $4,348 $34,447 5 $34,447 $7,451 $2,756 $4,696 $29,752 6 $29,752 $7,451 $2,380 $5,071
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Unformatted text preview: $24,680 7 $24,680 $7,451 $1,974 $5,477 $19,203 8 $19,203 $7,451 $1,536 $5,915 $13,288 9 $13,288 $7,451 $1,063 $6,388 $6,900 10 $6,900 $7,451 $552 $6,900 $0 Total 74,515 24,515 50,000 Consider a 10 year loan with annual payments. The interest rate is 8% and the principal amount is $50,000. 1 2 3 4 5 6 7 8 9 10 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Interest Paid Principal Paid...
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LN_6_Loan Amortization - $24,680 7 $24,680 $7,451 $1,974...

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