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This video tutorial from Howard Community College demonstrates how to construct an amortization schedule using a specific loan scenario. The example presented involves a $15,000 loan at a 4.5% annual interest rate, compounded monthly, with a repayment term of 3 years. The first step is to calculate the monthly payment using the present value formula, which results in a payment of $446.20. The second step involves determining the interest rate for each payment period by converting the annual interest rate into a decimal and dividing it by the number of compounding periods per year, which is 12 in this case for monthly payments. The tutorial provides detailed guidance for these calculations.