Answer:
French Loan Schedule $33,437.97
German Loan Schedule $27,250
Explanation:
As there is no information attached about the kind of loan schedule I'm ghoing to resumethe work for the two possible options:
French Loan (equal payment across year)
This will be an annuity of 6 year at 9% interest:
[tex]PV \div \frac{1-(1+r)^{-time} }{rate} = C\\[/tex]
PV 150,000.00
time 6
rate 0.09
[tex]150000 \div \frac{1-(1+0.09)^{-6} }{0.09} = C\\[/tex]
C $ 33,437.967
German Loan (equal amortization across the loan-life)
$150,000 / 6 = 25,000 amorization per year
Last year payment will be the 25,000 plus the interest accrued during this time:
25,000 x ( 1+ 0.09) = $27,250
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If the question what about different principal payment across times then, there do another question an attach that information.
