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This video tutorial, intended as supplementary material for Howard Community College courses, demonstrates how to create an amortization schedule. The scenario involves taking out a $15,000 loan at 4.5% interest, compounded monthly, with monthly payments over 3 years. Before constructing the amortization table, two steps are necessary: calculating the monthly payment and determining the interest rate per payment period. The monthly payment for this situation is $446.20. To find the interest rate for each payment period, the annual rate of 4.5% is converted to a decimal (0.045) and then divided by the number of compounding periods per year (12), due to monthly payments.