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Ammortization schedule

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On 10/1/05, the ACCT300 Commissioner authorized a special loan agreement with Astros Co, whereby Astros Co would borrow $125,000 at 9% interest. Conditions of tthe agreement require the repayment of the loan with 7 annual payments, beginning 10/1/06, in the following amounts

Payment Number Payment Amount
1 25,000
2 25,000
3 25,000
4 ???
5 20,000
6 15,000
7 10,000

**Compute the :
1) balance of the loan at 10/1/08, immediately after the 3rd payment
2) balance of the loan at 10/1/09, immediately after the 4th payment
3) amount of the 4th payment
4) amount that the balance of the loan decreases between 10/1/06 and 10/1/07
5) amount fo interest incurred by Astros Co between 10/1/10 and 10/1/11

CLUE MUST MATCH::::Interest from 10/1/07 through 10/1/10 is approximately $19,340

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Solution Summary

The expert calculates the amount of interest. Amortization schedules are computed for a special loan agreement with Astro Co.

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