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This video tutorial, designed for Howard Community College courses, demonstrates how to construct an amortization schedule for a $15,000 loan at a 4.5% annual interest rate, compounded monthly, with a repayment period of 3 years. To create the amortization table, two initial steps are necessary. First, the monthly payment is calculated using the present value formula, resulting in a payment of $446.20. Second, the interest rate for each payment period is determined by converting the annual interest rate into a decimal (0.045) and dividing it by the number of compounding periods per year, which is 12 for monthly payments.