What Is an Amortization Schedule? How to Calculate With Formula
investopedia.com
What Is an Amortization Schedule? How to Calculate With Formula
Amortization is an accounting technique used to periodically lower the book value of a loan or intangible asset over a set period of time.
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Prepare an amortization schedule for a three-year loan of 75,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan? | Numerade
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