Final answer:
To calculate a loan payment schedule, you need to know the principal balance, interest rate, and loan term. The total interest paid is not needed for this calculation.
Step-by-step explanation:
To calculate a loan payment schedule, you need to know the principal balance, the interest rate, and the loan term. The principal balance is the initial amount borrowed, the interest rate is the annual percentage charged on the loan, and the loan term is the period over which the loan will be repaid.
However, the total interest paid is not needed to calculate a loan payment schedule. It is the sum of the interest payments made over the life of the loan, but it is not required to calculate the schedule itself.
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