Having full power over your files at any moment is vital to alleviate your everyday tasks and improve your productivity. Accomplish any goal with DocHub tools for document management and convenient PDF editing. Access, modify and save and incorporate your workflows along with other safe cloud storage services.
DocHub offers you lossless editing, the opportunity to work with any format, and safely eSign papers without the need of looking for a third-party eSignature alternative. Make the most from the document management solutions in one place. Check out all DocHub functions right now with the free account.
This video is provided as supplementary material for courses taught at Howard Community College and in this video Im going to show how to construct an amortization schedule. So imagine youve got a situation like this. You take out a loan for $15,000. Its at 4.5% compounded monthly and youve got monthly payments for 3 years. We have to make an amortization table for that situation. There are two steps we have to do before we can start filling in the table. The first thing is were going to use the present value formula and well figure out what the monthly payment will be. Ive already done that and given this this situation the monthly payment would be $446.20. The other thing we have to do is figure out the interest rate for each payment period. So what we do is take the annual interest rate, which is 4.5%, we turn that into a decimal -- .045, and then we want to divide that by the number of compounding periods each year. Since were making monthly payments, that would be 12. S