Create the amortization schedule of a four-year ordinary annuity worth $ 15,000 and an effective annual...

Create the amortization schedule of a four-year ordinary annuity worth $ 15,000 and an effective annual return on 6 percent with monthly instalments, and calculate how much principal is expected to be paid in the first month of the second year.

If it possible, could u do it in excel table. Thank you in advance.

Expert Solution

Principal Amount = P = $15000

Number of Years = 4 (= 48 months)

Interest Rate = 6%

Calculating in Excel -

Principal to be paid in first month of second year (13th month) = $294.38

jeff jeffy answered 1 year ago

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