At some time in your life, you will make a large purchase such as a home or car. You may need to borrow money to make this purchase and pay back the loan with a series of regular payments. This process is called amortization.

Our goals in this section are to

- Calculate the payment on an amortized loan.
- Construct an amortization schedule.
- Calculate the present value of an annuity.

Use the workbook and videos below to help you accomplish these objectives.

Section 5.5 Workbook (PDF) 11/2/19

Practice Solutions

Videos