Chapter 13

Learning Objectives

  • Construct a loan’s amortization schedule.
  • Calculate the principal balance after any payment .
  • Calculate the final loan payment when it differs from the others.
  • Calculate the principal and interest component of any payment.
  • Calculate mortgage payments for the initial loan and its renewals.
  • Calculate mortgage loan balances and amortization periods to reflect prepayments of principal.

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Business Math: A Step-by-Step Handbook Abridged Copyright © 2022 by Sanja Krajisnik; Carol Leppinen; and Jelena Loncar-Vines is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

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