gracelong6819 gracelong6819

08-06-2021
Business

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Assume a lender offers you a 25,000, 10%, three year loan that is to be fully amortized with three annual payments. The first payment will be due one year from the loan date.

Required:
Construct amortization

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kuzakdo kuzakdo

08-06-2021

Answer:

A = 10,052.87

Explanation:

A = P * [ r(1+r)^n / ((1+r)^n - 1) ]

P = 25000

r = 10% = 0.1

n = 3

A = 25000 * [ 0.1(1.1)^n / (1.1^3 - 1) ]

10,052.87 = 25000 * [ 0.1331 / 0.331 ]

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Amberswag72 Amberswag72

08-06-2021

he already explained it

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