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Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
Edition 7ISBN: 978-0073545875Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
Edition 7ISBN: 978-0073545875 Exercise 5
Assume that a $200,000 loan will be repaid in 30 annual payments at 9 percent annual interest on the outstanding balance. How much principal and interest will be due in the first payment if the loan is amortized with equal principal payments
If it is amortized with equal total payments
How would these figures change for the second payment in each case
Use Appendix Table 1 to find the amortization factor for the equal total payment case.
Reference Appendix Table-1:
If it is amortized with equal total payments
How would these figures change for the second payment in each case
Use Appendix Table 1 to find the amortization factor for the equal total payment case.
Reference Appendix Table-1:
Explanation
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Equal Principle Payments:
The due princ...
Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
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