Construct a loan amortization schedule assuming

Reference no: EM13304095

In order to illustrate the concept of the time value of money, let's consider the following scenario.

Mary has decided to borrow $120,000. The terms of the loan are 6% over the next 4 years. She will be making annual payments (not monthly). This is an important distinction.

Construct a loan amortization schedule that shows the 4 payments of Mary's loan.

Reference no: EM13304095

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