Purchase Solution

Loan amortization schedule and total interest calculation.

Not what you're looking for?

Ask Custom Question

Prepare an amortization schedule for a 3-year loan of $40,000. The interest rate is 11 percent per year and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan?

Purchase this Solution

Solution Summary

In this solution I have provided an excel sheet with embedded formulas. I have shown loan amortization schedule for a three year loan with equal installments. I have also calculated the interest paid in the last year as well as the total interest paid. A good example of how loan amortization works.

Purchase this Solution


Free BrainMass Quizzes
Business Processes

This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.

Team Development Strategies

This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

Balance Sheet

The Fundamental Classified Balance Sheet. What to know to make it easy.

Change and Resistance within Organizations

This quiz intended to help students understand change and resistance in organizations

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.