Georgia College & State University
5-22 a. This can be done with a calculator by specifying an interest rate of 5% per period for 20 periods with 1 payment per period. N = 10 ( 2 = 20, I/YR = 10/2 = 5, PV = -10000, FV = 0. Solve for PMT = $802.43. b. Set up an amortization table: Beginning Payment of Ending. Period Balance Payment Interest Principal Balance ................
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