Question #900102

What is Juan’s loan amortization schedule for the first five months?

Juan would like to add a shuttle service for his hotel guests to nearby shopping centers. The van has a price tag of $35,000. His bank will give him a loan for $25,000 at only 6% interest, compounded monthly, if Juan pays $10,000 as a down payment. What is Juan’s loan amortization schedule for the first five months?

2012-10-12 08:55:46

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