Messineo LLC borrowed $15,000 at a 14% annual rate of interest to be repaid over 3 years. The loan is amortized into three equal annual end of year payments. As the CFO of Messineo, LLC you must prepare a report of the pertinent information in a short summary for the CEO. 1. Calculate the annual end of year loan payment amount. 2. Prepare a loan amortization schedule showing the interest and principal break down of each of the three loan payments. 3. Prepare a one page executive summary for the CEO, Linda Messineo, with the loan payment schedule explaining why the interest portion of each payment declines with the passage of time. Also, be sure to remind her that the interest portion of the loan payment is tax deductible. You should include your spreadsheet as an appendix to your executive summary to prove your figures in the loan payment schedule. Hint: Using a spreadsheet, you will start with the PMT function to calculate the annual payment. Next you will use the IPMT function to find the interest portion for each of the three years. Please include 3-5 references. Thank you
Affordable Paper provides reference papers and assignment help through the services and students are suggested to use them as guide papers only in order to avoid any sort of law violation of the university or education sector.
What we do
For any questions, feedback, or comments, we have an ethical customer support team that is always waiting on the line for your inquiries.
Send us an E-mail: email@example.com
Call us:+1(508) 504-5634