Question

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
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Answer 1

use PMT funciton in Excel

Year	Beg Balance	Total Pmt	Interest	Principal Paid	End Balance
1	4,300	196.44	32.25	164.19	4,135.81
2	4,136	196.44	31.02	165.43	3,970.38
3	3,970	196.44	29.78	166.67	3,803.71
4	3,804	196.44	28.53	167.92	3,635.80
5	3,636	196.44	27.27	169.18	3,466.62
6	3,467	196.44	26.00	170.44	3,296.18
7	3,296	196.44	24.72	171.72	3,124.45
8	3,124	196.44	23.43	173.01	2,951.44
9	2,951	196.44	22.14	174.31	2,777.13
10	2,777	196.44	20.83	175.62	2,601.52
11	2,602	196.44	19.51	176.93	2,424.58
12	2,425	196.44	18.18	178.26	2,246.32
13	2,246	196.44	16.85	179.60	2,066.73
14	2,067	196.44	15.50	180.94	1,885.78
15	1,886	196.44	14.14	182.30	1,703.48
16	1,703	196.44	12.78	183.67	1,519.81
17	1,520	196.44	11.40	185.05	1,334.77
18	1,335	196.44	10.01	186.43	1,148.33
19	1,148	196.44	8.61	187.83	960.50
20	961	196.44	7.20	189.24	771.26
21	771	196.44	5.78	190.66	580.60
22	581	196.44	4.35	192.09	388.51
23	389	196.44	2.91	193.53	194.98
24	195	196.44	1.46	194.98	0.00