Finance amount = 102,000,000 – 2,000,000 = 100,000,000
This is finances through 15 years loan and so nper = 15*12 = 180. Rate = 15%/12
Let us now make a loan amortization table as shown below:
(a): X = 28,996.8118. This will be rounded to 28,997
(b): Interest paid in the last 5 years (or last 60 months) = 55,217,476.09. This will be rounded to 55,217,476
(c): Interest paid in 13th year means interest paid from month 144 to 155. Interest amount = 12,549,452
The table is shown below:
Period | Loan balance at the start of the month | Principal repayment | Interest | Total payment | Loan balance at the start of the month |
1 | 100,000,000 | 100,000 | 1,250,000 | 1,350,000 | 99,900,000 |
2 | 99,900,000 | 100,000 | 1,248,750 | 1,348,750 | 99,800,000 |
119 | 88,200,000 | 100,000 | 1,102,500 | 1,202,500 | 88,100,000 |
120 | 88,100,000 | 100,000 | 1,101,250 | 1,201,250 | 88,000,000 |
121 | 88,000,000 | 28,997 | 1,100,000 | 1,128,997 | 87,971,003 |
122 | 87,971,003 | 31,896 | 1,099,638 | 1,131,534 | 87,939,107 |
167 | 65,040,460 | 2,324,951 | 813,006 | 3,137,957 | 62,715,509 |
168 | 62,715,509 | 2,557,446 | 783,944 | 3,341,390 | 60,158,063 |
169 | 60,158,063 | 2,813,190 | 751,976 | 3,565,166 | 57,344,873 |
170 | 57,344,873 | 3,094,510 | 716,811 | 3,811,320 | 54,250,363 |
171 | 54,250,363 | 3,403,960 | 678,130 | 4,082,090 | 50,846,403 |
172 | 50,846,403 | 3,744,357 | 635,580 | 4,379,937 | 47,102,046 |
173 | 47,102,046 | 4,118,792 | 588,776 | 4,707,568 | 42,983,254 |
174 | 42,983,254 | 4,530,671 | 537,291 | 5,067,962 | 38,452,583 |
175 | 38,452,583 | 4,983,739 | 480,657 | 5,464,396 | 33,468,844 |
176 | 33,468,844 | 5,482,112 | 418,361 | 5,900,473 | 27,986,732 |
177 | 27,986,732 | 6,030,324 | 349,834 | 6,380,158 | 21,956,408 |
178 | 21,956,408 | 6,633,356 | 274,455 | 6,907,811 | 15,323,052 |
179 | 15,323,052 | 7,296,692 | 191,538 | 7,488,230 | 8,026,361 |
180 | 8,026,361 | 8,026,361 | 100,330 | 8,126,690 | 0 |
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