A bank loan requires you to pay $88,000 at the end of each of the next eight years. The interest rate is 10%. a. What is the present value of these payments? b. Complete the following amortization table. Complete this question by entering your answers in the tabs below. Required A Required B Complete the following amortization table. Note: Negative amounts should be indicated by a minus sign. Round intermediate calculations and final answers to the nearest whole dollar amount. Year 1 2 3 4 5 6 7 8 Beginning Balance Payment Interest (10%) Loan Reduction Ending Balance Required A Required B

A bank loan requires you to pay $88,000 at the end of each of the next eight years. The interest rate is 10%. a. What is the present value of these payments? b. Complete the following amortization table. Complete this question by entering your answers in the tabs below. Required A Required B Complete the following amortization table. Note: Negative amounts should be indicated by a minus sign. Round intermediate calculations and final answers to the nearest whole dollar amount. Year 1 2 3 4 5 6 7 8 Beginning Balance Payment Interest (10%) Loan Reduction Ending Balance Required A Required B

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 5RE: Next Level Potter wishes to deposit a sum that at 12% interest, compounded semiannually, will permit...

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