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In order to illustrate the concept of the time val...

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In order to illustrate the concept of the time value of money, let's consider the following scenario. Mary has decided to borrow $120,000. The terms of the loan are 6% over the next 4 years. She will be making annual payments (not monthly). This is an important distinction. Construct a loan amortization schedule that shows the 4 payments of Mary?s loan. A sample of a Loan Amortization Schedule can be found on page 69 in Table 4.2. (Attached File) Complete in Excel

 

Paper#1808 | Written in 18-Jul-2015

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