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This video tutorial, designed for courses at Howard Community College, demonstrates how to construct an amortization schedule. A scenario is presented where a loan of $15,000 is taken out at an interest rate of 4.5% compounded monthly, with a repayment period of 3 years. To create the amortization table, two initial steps are required: first, calculate the monthly payment using the present value formula, which is found to be $446.20. Second, determine the interest rate for each payment period by converting the annual interest rate of 4.5% to a decimal (0.045) and dividing it by the number of compounding periods per year (12 for monthly payments).