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4. You had to borrow $6,000 from your bank for a business loan. The loan will be paid back in four months at an annual rate of 7.2%. Please complete the following amortization table: Month 1 2 3 4 23 Month 1 2 4 5. For the above problem, what was the total principle payment and total interest paid? 3 Unpaid Balance 6,000.00 6. You negotiate with the bank to borrow $6,000 for 4 months at 7.2% annual interest, similar to the problem above, however you would like to make monthly payments of $1,200. All interest and the remaining principal and interest is due in the fourth month. Fill in the following amortization table. Month 1 2 3 Interest Payment Unpaid Balance 6,000.00 Unpaid Balance $180,000.00 Principal Payment Interest Payment Total Payment 1,522.57 1,522.57 1,522.57 Principal Payment Interest Payment Total Payment 1,200.00 1,200.00 1,200.00 Amortization Schedule for Mortgage Principal Payment New Balance 7. For the above problem, what was the total principle payment and total interest paid?q= 8. You bought your first home for $180,000 at 4.8% annual interest rate, to be paid monthly for the next 20 years. Please fill in the following amortization schedule: 0.00 Total Payment $1,168.12 1,168.12 1,168.12 New Balance 0.00 New Balance Extra Credit: Please put the above amortization schedule in excel and show all payments for 20 years. What is the total principle paid? What is the total interest paid?

4. You had to borrow $6,000 from your bank for a business loan. The loan will be paid back in four months at an annual rate of 7.2%. Please complete the following amortization table: 5. For the above problem, what was the total principle payment and total interest paid? 6. You negotiate with the bank to borrow $6,000 for 4 months at 7.2% annual interest, similar to the problem above, however you would like to make monthly payments of $1,200. All interest and the remaining principal and interest is due in the fourth month. Fill in the following amortization table. 7. For the above problem, what was the total principle payment and total interest paid? 8. You bought your first home for $180,000 at 4.8% annual interest rate, to be paid monthly for the next 20 years. Please fill in the following amortization schedule: Extra Credit: Please put the above amortization schedule in excel and show all payments for 20 years. What is the total principle paid? What is the total interest paid

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