Develop an amortization schedule for the loan described Roun

Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)

$190,000 for 3 years at 8% compounded annually

Period	Payment	Interest	Balance Reduction	Unpaid Balance
				$190,000
1	$	$	$	$
2	$	$	$	$
3	$	$	$	$0.00

Solution

Perioed Payment Interest balance reduction Unpaid $190,000 1 $73,726.37 $15,200.00 $58,526.37 $131,473.63 2 $73,726.37 $10,517.89 $63,208.48 $68,265.16 3 $73,726.37 $5,461.21 $68,265.16 $0