Manual file processing can be quite a reason behind your enterprise losing money along with your staff members losing interest in their duties. The easiest way to accelerate all enterprise operations and increase your statistics is to handle everything with cutting-edge solution like DocHub. Handle your documents and Save Amortization Schedule in JPG within just seconds and save more time for pertinent duties.
With DocHub, you possess unlimited access to your documents and Templates available to you at any moment. Explore all functions right now with your free DocHub account.
This video tutorial from Howard Community College demonstrates how to create an amortization schedule for a loan. The example given is a $15,000 loan at a 4.5% annual interest rate, compounded monthly, with payments over three years. The tutorial outlines two initial steps: first, calculating the monthly payment using the present value formula, which resulted in a payment of $446.20. Second, it details how to determine the interest rate for each payment period by converting the annual interest rate into a decimal and dividing by the number of compounding periods per year (12 for monthly payments).