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This video tutorial, designed for Howard Community College courses, demonstrates how to construct an amortization schedule. It presents a scenario involving a $15,000 loan at a 4.5% annual interest rate, compounded monthly, with a repayment period of three years. To create the amortization table, two initial steps are necessary: First, using the present value formula to calculate the monthly payment, which amounts to $446.20. Second, determining the interest rate for each payment period by converting the annual interest rate to a decimal (0.045) and dividing it by the total number of compounding periods in a year (12, for monthly payments).