complete an amortization schedule for the following loan. the loan is $100,000 at 3.5% interest, amortized...

complete an amortization schedule for the following loan. the loan is $100,000 at 3.5% interest, amortized on a YEARLY basis over five (5) years.

Expert Solution

Solution :-

Loan Amount = $100,000

Interest Rate = 3.5%

Term of Loan = 5 Years

Now Value of Annual Installment = Loan Amount / PVAF ( r , n )

= $100,000 / PVAF ( 3.5% , 5 )

= $100,000 / 4.515

= $22,148.14

If there is any doubt please ask in comments

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jeff jeffy answered 1 year ago

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