Posted by **sweet** on Friday, October 22, 2010 at 6:21pm.

John borrows $150,000. The terms of the loan are 7.5% over the next 5 years. It is important to note that he makes annual rather than monthly payments.

Construct a loan amortization schedule that shows the 5 payments of John's loan.

- finance -
**Reiny**, Friday, October 22, 2010 at 7:01pm
hard to show charts on here, since columns don't line up.

First you have to find the payment, solve for x

150000 = x(1 - 1.075^-5)/.075

(I got 37 074.71 )

make a table with headings

Time -- payment --interest --- repayment -- balance

1 -- 37074.71 -- 11250 --- 25824.71 --- 124175.29

2 --- 37074.71 --9313.15 -- 27761.56 -- 96413.73

.....

(mine came out exactly to the last penny)

## Answer this Question

## Related Questions

- accounting - John borrows $150,000. The terms of the loan are 7.5% over the next...
- Finance - Consider the following scenario: John buys a house for $150,000 and ...
- Finance - Consider the following scenario: John buys a house for $150,000 and ...
- Maths - Firm has a $500,000 loan with 9% APR (compounded monthly) Loan is 5-yr ...
- Finance - You have arranged for a loan on your new car that will require the ...
- college math - loverdale-Nurseries obtained a $60,000 loan at 7.5% compounded ...
- Please Help me with a Finance - Loan problem - A company borrows $170000, which ...
- Finance - Loans problem please help - A company borrows $170000, which will be ...
- Finance - you have contacted a number of dearlerships to determine the best ...
- Finance - you have contacted a number of dearlerships to determine the best ...

More Related Questions