Create amortization schedule

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Reference no: EM131908816

Because KUNY Bank offers very competitive rates, you approve another loan for a different small business. The loan amount is $12,000, the duration of the loan is six years, and the interest rate is 8.75%. Per the terms of the loan, the borrower has to pay interest on the loan each year, plus a fixed annual payment of $2,000 to reduce the loan balance until full re-payment. Compute the following: (a) Create an amortization schedule for this company, (b) Using a bar chart, graph the cash flows (i.e. Total Payment, Interest Paid, and Principal Paid) on the y-axis versus time on thex-axis, (c) Add data labels to your series, so that your customer can easily visualize the data.

Reference no: EM131908816

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