Question 1184671
loan is 15,000, amortized over a 4 year period at 10% interest rate per year.
payment on the loan at the end of each year is 4732.06.


here's the amortization schedule.


beginning of first year balance = 15,000
end of first year balance = 15,000 * 1.10 - 4732.06 = 11767.94
end of second year balance = 11767.94 * 1.10 - 4732.06 = 8212.67
end of third year balance = 8212.67 * 1.10 - 4732.06 = 4301.87
end of fourth year balance = 4301.87 * 1.10 - 4732.06 = 0


numbers shown are rounded to the nearest penny.
the actual calculations were done with the unrounded numbers.


you can do this yourself with the following online financial calculator.


<a href = "https://arachnoid.com/finance/index.html" target = "_blank">https://arachnoid.com/finance/index.html</a>


the output looks like this.


<img src = "http://theo.x10hosting.com/2021/092012.jpg" >


inputs are everything except the payment amount.
output is the payment amount


you still have to make up the amortization schedule yourself.


i used the ti-ba-ii business analyst calculator.
it does the same job as the online financial calculator.