Problem 5.56 – Amortization Schedule (Equal Principal Reductions)

Essentials of Corporate Finance

Ross, Westerfield, and Jordan

10th Edition and 11th Edition

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Difficulty – Medium

Given the loan amount, interest rate, loan length in years, and the equal annual principal reduction... prepare an amortization schedule and find the total interest paid. This solver will work for loans ranging from 3 years up to 8 years: The grid adjusts automatically.

WARNING: If you want equal loan payments instead of equal principal reduction, you need problem 5.55 instead!

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