Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $38120 with an annual interest rate of 15.8%. The loan will be repaid over 4 years with monthly payments.
Loan payment
Interest portion
Principle portion
Loan balance after first monthly payment
What is the most you would be willing to pay for a investment that will pay you $355 in one year, $809 in two years, and $128 in three years, if your required rate of return for this type of investment is 15.7%?
Value of investment =