P4-47 work - Closing O/s 1 10000 1300 4235.22 7064.78 2...

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Liz Rogers a) Let Installemnt per year be X $ Therefore, $10000 = X x PVIFA(13%, 3) Year Inetrest rate Disc. Rate 1 13% 0.88 2 13% 0.78 3 13% 0.69 2.36 X = $4,235.22 b) Amortization schedule (Figures in $) Year Opening O/s Interest Installement
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Unformatted text preview: Closing O/s 1 10000 1300 4235.22 7064.78 2 7064.78 918.42 4235.22 3747.98 3 3747.98 487.24 4235.22 c) Interest payable every year is Year Interest 1 1300 2 918.42 3 487.24...
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This note was uploaded on 04/22/2011 for the course FIN & ACC 504 & 502 taught by Professor Harper&tai during the Spring '11 term at Grand Canyon.

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