Having full power over your papers at any moment is important to relieve your everyday tasks and improve your productivity. Achieve any goal with DocHub tools for papers management and convenient PDF editing. Access, change and save and incorporate your workflows with other safe cloud storage services.
DocHub gives you lossless editing, the chance to work with any formatting, and securely eSign documents without searching for a third-party eSignature alternative. Obtain the most from the file management solutions in one place. Try out all DocHub features today with the free account.
This video tutorial from Howard Community College demonstrates how to construct an amortization schedule. The example used involves a loan of $15,000 at an interest rate of 4.5% compounded monthly, with a repayment term of 3 years. The process begins with using the present value formula to calculate the monthly payment, which is determined to be $446.20. Additionally, the interest rate for each payment period is calculated by converting the annual interest rate of 4.5% into a decimal (.045) and then dividing it by the number of compounding periods per year, which is 12 for monthly payments.