Your company is planning to borrow $0.75 million on a 5-year, 14%,
annual payment, fully amortized term loan.
The data has been collected in the Microsoft Excel Online file
below. Open the spreadsheet and perform the required analysis to
answer the question below.
What fraction of the payment made at the end of the second year
will represent repayment of principal? Do not round intermediate
calculations. Round your answer to two decimal places.
________ %
screenshot of spreadsheet attached just for reference.
I need the yellow highlighted percentage above
The answer is 0.592.
Loan Payment is calculated using PMT function in excel
Interest Payment= 14%* Beginning Balance
Principal Paid= Payment- Interest Payment
Ending Balance= Beginning Balance+Interest - Payment
Loan Amount | 750000 | |||||
Term Year | 5 | |||||
Annual Coupon Rate | 14% | |||||
Loan Payment | $218,462.66 | |||||
Beginning Balance | Payment | Interest Principal | Principal | Ending Balance | ||
750000 | $218,462.66 | 105000 | $113,462.66 | $636,537.34 | ||
$636,537.34 | $218,462.66 | $89,115.23 | $129,347.43 | $507,189.91 | ||
$507,189.91 | $218,462.66 | $71,006.59 | $147,456.07 | $359,733.84 | ||
$359,733.84 | $218,462.66 | $50,362.74 | $168,099.92 | $191,633.91 | ||
$191,633.91 | $218,462.66 | $26,828.75 | $191,633.91 | $0.00 | ||
Fraction | 0.5920802774 | |||||
In % | 59.20802774 | |||||
Your company is planning to borrow $0.75 million on a 5-year, 14%, annual payment, fully amortized...
Your company is planning to borrow $0.75 million on a 5-year, 14%, annual payment, fully amortized term loan. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. What fraction of the payment made at the end of the second year will represent repayment of principal? Do not round intermediate calculations. Round your answer to two decimal places. __________% the answer is not .5 92....
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