Problem 6.55 – Amortization with Equal Payments

Fundamentals of Corporate Finance

Ross, Westerfield, and Jordan

13th Edition

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Difficulty – Hard

Prepare an amortization schedule and find out how much interest is paid in the third year (or whichever year they ask for) and also compute the total interest paid over the life of the loan. This solver will work for a loan up to 10 years.

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