Prepare an amortization schedule for a five-year loan of, Finance Basics

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Prepare an amortization schedule for a five-year loan of

Question: Prepare an amortization schedule for a five-year loan of $56,000. Assume the loan agreement calls for a principal reduction of $11,200 every year. The interest rate is 7 percent per year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Leave no cells blank - be certain to enter "0" wherever required.)

- Beginning Balance

- Total Payment

- Interest Payment

- Principal Payment

- Ending Balance

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