Please complete the attached amortization schedule This is a

Please complete the attached amortization schedule. This is a common task people in accounting and finance do all the time. One example is how a car payment or a house payment is calculated.

	Data			Period	Date	Interest Expense	Principal Reduction	Cash Payment	Unpaid Balance
	Loan Amount	$6,000.00		issue date	3/1/18				6,000.00
	Beginning Date	1/1/2018		1	3/1/19			1,811.52
	Term (years)	4		2	3/2/20			1,811.52
	Interest rate	8.00%		3	3/3/21			1,811.52
				4	3/4/22			1,811.55
	Annual Payment	$1,811.52			Total	1,246.10	6,000.00	7,246.11

Solution

Date Interest Period Date Interest Expenses Principal Cash Payment Unpaid Expense Reduction Balance Loan Amount $6,000.00 issue date 3/1/2018 $          -   $          -   $          -   $6,000.00 Beginning Date 1/1/2018 1 3/1/2019 $   480.00 $1,331.52 $1,811.52 $4,668.48 Term (years) 4 2 3/2/2020 $   373.48 $1,438.04 $1,811.52 $3,230.44 Interest rate 8.00% 3 3/3/2021 $   258.44 $1,553.08 $1,811.52 $1,677.35 4 3/4/2022 $   134.19 $1,677.36 $1,811.55 $     (0.01) Annual Payment $1,811.52 Total $1,246.10 $6,000.00 $7,246.11