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Problem 5-50 Amortization Schedule (LG9) Create the amortization schedule for a loan of $4,300, paid monthly...

Problem 5-50 Amortization Schedule (LG9)

Create the amortization schedule for a loan of $4,300, paid monthly over two years using an 9 percent APR. (Round your answers to 2 decimal places.)

Month Beginning

Balance Total

Payment Interest

Paid Principal

Paid Ending

Balance

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

Expert Solution

Loan Value = $4,300

Annual Interest rate =9%

tenure =2 year

Monthly payment on loan is calculated inexcel and screen shot provided below:

Monthly payment on loan is $196.44.

Loan Amortization schedule is calculated inexcel and screen shot provided below:

jeff jeffy answered 1 year ago

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