Question

please show excel syntax

Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $20,000 for 1 year at 12% compounded quarterly Balance Reduction Unpald Balance Perlod Payment Interest $20,000 1 $ $ 3 4 $0.00 Need Help? Read It Talk to a Tuter

Answer 1

Using Excel for amortization schedule

Total cost	20000
Down Payment	0
Amount of loan	20000
interest rate	12%
time (quarters)	4
Quarterly payment	5380.5
Year	Begining Balance	Payment	Interest	Balance Reduction	Unpaid Balance
1	20000	5380.5	600.0	4780.5	15219.5
2	15219	5380.5	456.6	4924.0	10295.5
3	10296	5380.5	308.9	5071.7	5223.8
4	5224	5380.5	156.7	5223.8	0.0

Showing formula in excel

Total cost	20000
Down Payment	0
Amount of loan	=B1-B2
interest rate	0.12
time (quarters)	4
Quarterly payment	=PMT(B4/4,B5,-B3)
Year	Begining Balance	Payment	Interest	Balance Reduction	Unpaid Balance
1	=B3	=$B$7	=B12*($B$4/4)	=C12-D12	=B12-E12
2	=F12	=$B$7	=B13*($B$4/4)	=C13-D13	=B13-E13
3	=F13	=$B$7	=B14*($B$4/4)	=C14-D14	=B14-E14
4	=F14	=$B$7	=B15*($B$4/4)	=C15-D15	=B15-E15