Answers based on Schedule given at last :
(a) During payment no 131 , principal applied exceed interest
applied to that payment.
|
(A) Opening Principal |
(B) Interest |
(C) Amount |
(D) EMI |
(E) Princ. Applied |
(F) Remaining Principal |
|
131 |
$127,887 |
$799 |
$128,687 |
$1,611 |
$812 |
$127,075 |
|
(b) False , when half of the time i.e. 120 months have passed,
the opening principal of 121st payment is 135,734 which is more
than half i.e. 100,000 of the original balance.
|
(A) Opening Principal |
(B) Interest |
(C) Amount |
(D) EMI |
(E) Princ. Applied |
(F) Remaining Principal |
121 |
$135,734 |
$848 |
$136,582 |
$1,611 |
$763 |
$134,971 |
(c)
One way of finding the total interest paid is adding up the
interest column ($186,685) in Amortization schedule and second way
is adding up the EMS column ($386,685) and then deducting principal
amount there from ($200,000).
|
(A) Opening Principal |
(B) Interest |
(C) Amount |
(D) EMI |
(E) Princ. Applied |
(F) Remaining Principal |
Total |
$29,869,557 |
$186,685 |
$30,056,242 |
$386,685 |
$200,000 |
$29,669,557 |
Amortization schedule for reference : some rows deleted
as answer limit is 65000 characters
Total |
$29,869,557 |
$186,685 |
$30,056,242 |
$386,685 |
$200,000 |
$29,669,557 |
Amortization Schedule
![Loan Amount No of years Rate of Interest (R) Monthly Payment/EMI $200,000 201 7.50% pa $1,611 pm (A) Opening Principal Princ.](//img.homeworklib.com/questions/3bcfee30-6ffb-11ea-bb86-7f26102b3f0b.png?x-oss-process=image/resize,w_560)
![54-| $193.543 | $193.141 5192.137) $192 331| 5191922 ) 5191.510 | 191.096 $190.679 || $190.260 | $189,837| $189,413 | $188.98](//img.homeworklib.com/questions/3c34eac0-6ffb-11ea-97d8-3dd3b8be427a.png?x-oss-process=image/resize,w_560)
![$181,298 $180,820 $180,339 $179,855 $179,367 $178,877 $178,384 $177,888 $177,388 $176,886 $176,380 $175,871 $175,359 $174,844](//img.homeworklib.com/questions/3c9e64e0-6ffb-11ea-8fad-f73fec5aae27.png?x-oss-process=image/resize,w_560)
![| 73| 175 176 177 179 5167,288 | $166.719 $166.149 $165.577 $165,000 | $164.420 | $163,837 | $163.250 | $162.659 $162,064 | $](//img.homeworklib.com/questions/3d030d80-6ffb-11ea-bce0-799154f2142e.png?x-oss-process=image/resize,w_560)
![101] 102] 103|| 104|| 105| 106 | 107 106 | 109|| 110| 111| 112| 113| | 114| 115| 116| 117|| 118| 119|| 120 121] 122| 123|| $1](//img.homeworklib.com/questions/3d6c5bf0-6ffb-11ea-9050-9922384ad03b.png?x-oss-process=image/resize,w_560)
![$129,496 $128,694 $127,887 $127,075 $126,258 $125,436 $124,609 $123,777 $122.939 $122,096 $121,248 $120,395 $119,536 $118,672](//img.homeworklib.com/questions/3dd7b720-6ffb-11ea-9732-05350af3c761.png?x-oss-process=image/resize,w_560)
![$955 $961 $967 $973 $979 $985 $991 $997 $105,044 $104,089 $103,128 $102,162 $101,189 $100,210 $99,225 $98,234 $97,237 $96,234](//img.homeworklib.com/questions/3e9c4590-6ffb-11ea-9f87-113149a6dce2.png?x-oss-process=image/resize,w_560)
![php3f2Ch2.png](//img.homeworklib.com/questions/3eff3700-6ffb-11ea-a403-df91dd08d676.png?x-oss-process=image/resize,w_560)
![213 $39,915 $38.553 $37,183 $35,804 $34,42 5180 214 215 2161 2171 2181 2191 2201 2211 2221 223 224 225 226 227 228 229 230 23](//img.homeworklib.com/questions/3f615c00-6ffb-11ea-80cb-a7ccedb2052f.png?x-oss-process=image/resize,w_560)
![Total $29,869,557 $186,685 $30,056,242 $386,685 $200,000 $29,669,557](//img.homeworklib.com/questions/3fcf4680-6ffb-11ea-bf90-391237fad0be.png?x-oss-process=image/resize,w_560)
Loan Amount No of years Rate of Interest (R) Monthly Payment/EMI $200,000 201 7.50% pa $1,611 pm (A) Opening Principal Princ. Remaining (B) Interest (C) Amount (D) EMI Applied Principal PMT EMI- (A) R (A+B) formula interest (A+B-D) Formulas Month 1 2 4. 51 61 71 8 91 10 11 $200,000 $199,639 $199,275 $198,910 $198,542 $198,171 $197.799 $197,424 $197,047 $196,667 $196,285 $195,900 $195,514 $195,124 $194,733 $194,339 $193,942 $1,250 $1,248 $1,245 $1,243 $1,241 $1,239 $1,236 $1,234 $1,232 $1,229 $1,227 $1,224 $1,222 $1,220 $1,217 $1,215 $1,212 $201,250 $200,887 $200,521 $200,153 $199,783 $199,410 $199,035 $198,658 $198,278 $197,896 $197,512 $197,125 $196,736 $196,344 $195,950 $195,553 $195,154 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 | $361 $363 $366 $368 $370 $373 $375 $377 $380 $382 $384 $387 $389 $392 $394 $397 $399 $199,639 $199,275 $198,910 $198,542 $198,171 $197,799 $197,424 $197,047 $196,667 $196,285 $195,900 $195,514 $195, 124 $194,733 $194,339 $193,942 $193,543 GWA
54-| $193.543 | $193.141 5192.137) $192 331| 5191922 ) 5191.510 | 191.096 $190.679 || $190.260 | $189,837| $189,413 | $188.985 | $188.555 | $188.123 | 5187,687 | $187.249|| $186,808 | $186.365 | 5185.918 | $185.469」 $185.017 $184.562] $184.104 | $183.644 | $183.181 5182.714 | $182.245 | | $181.773| 1.210 | 198.75 | 51.611 | 51.2071519-349 」 $1.611 | 51.205 | 193,942] $1.611 | 12021 193.58] 51.611 | 12005193.121 | 51.611 | 51.17] 192,707 」 $1,611 | 5 1.194 | 192290 | 51.611 51.1921 191.871 | 51.611 1.189 」 $191.449 」 $1,611 | 51.186 | 5191,024 | 51.611 1,184 | 5190,5971 $1,611 51.181| $190.167 」 $1,611 51.178) $189,734 | $1,611 | 51.176) $189,298 | $1,611 51.173 | $188,860 | $1,611 51.170 | $188.419 」 $1,611 51.168 | 5187.976 | $1,511 51.165 | 5187529 」 $1.611 51.162 | 5187.080 | S1.611 51.159 | 5186.528 ) 51.611 1.156 | 5186.13] S1.611 51.154 | S135.15] 1.511 51.151| $185.255 | $1.511 | 51.148 | S122.192| 51.511 | 51.145 | 5184325 | S1.611 51.142] S123.856 | S1.611 51.139| S12338 | S1.611 | 1.136 S122. 29] S1.611 | 54021 5193.141 5192.737 SA07) 5192.331 | S409 」 $191.922 | 5412) 5191.5101 5414] 5191.096 5417| 5190.679 5419 | $190.260 | $422 | $189,837 $425 | 5189,413 $4271 5188,985 $430 | $188,555 5433] $188.123 $435 | $187,687 5187.249 SA41 | 5186,808 SAAA | $186.365 SA46 」 5185.918 $449] 185,469 5452) 5185.017 5455 | 184.562 5458 | $184.104 5461 | S123.54 5463) $183.181 5465) $182.714 5869 | 5182.245 472) 5181.73 $875|5181 298 | $438 |
$181,298 $180,820 $180,339 $179,855 $179,367 $178,877 $178,384 $177,888 $177,388 $176,886 $176,380 $175,871 $175,359 $174,844 $174,326 $173,804 $173,279 $172,751 $172,220 $171,685 $171,147 $170,605 $170,060 $169,512 $168,960 405) $167,846 $167,284 $1,133 $1,130 $1,127 $1,124 $1,121 $1,118 $1,115 $1,112 $1,109 $1,106 $1,102 $1,099 $1,096 $1,093 $1,090 $1,086 $1,083 $1,080 $1,076 $1,073 $1,070 $1,066 $1,063 $1,059 $1,056 $1,053 $1,049 $1,046 $182,431 $181,950 $181,466 $180,979 $180,488 $179,995 $179,499 $179,000 $178,497 $177,991 $177,483 $176,971 $176,455 $175,937 $175,415 $174,890 $174,362 $173,831 $173,296 $172,758 $172,216 $171,671 $171,123 $170,571 $170,016 $169,458 $168,895 $168,330 $1,611 $1,611 $1,611 $1,611 $1,611 | $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $478 9481 $484 $487 $490 $493 $496 $499 $503 $506 $509 $512 $515 $518 $522 $525 $528 $531 $535 $538 $542 $545 $548 $552 $555 $559 $562 $566 $180,820 $180,339 $179,855 $179,367 $178,877 $178,384 $177,888 $177,388 $176,886 $176,380 $175,871 $175,359 $174,844 $174,326 $173,804 $173,279 $172,751 $172,220 $171,685 $171,147 $170,605 $170,060 $169,512 $168,960 $168,405 $167,846 $167,284 $166,719 72 73!
| 73| 175 176 177 179 5167,288 | $166.719 $166.149 $165.577 $165,000 | $164.420 | $163,837 | $163.250 | $162.659 $162,064 | $161,466 | $160,864 | $160,258 $159,648 $159,035 $158,418 $157,797 $157.172 $156.543 $155.910 $155.273 $154.633 $153.988 $153.339 $152.686 $152.029 $151.368 $150.703 51.0-5 | 5168 330 | 51.611| 51.0-21 S167,761] $1,611| $1,038 | 167,188 | 51.611 | 51.05 | 5166.611] $1,611 1.31] 5166.031 | S1.611 51.028 | S165,448 | 51.611 51.02 | 5164.861 | $1,611 $1,020 | $164,270 | $1,611 $1,017」 $163.675 | $1,611 $1,013 | $163,077】 $1,611 $1,00g | S162,475 | $1,611 $1,005 | $161,869 | $1,611] $1,002 | 5161,260 | $1,611 | 5998 | S160,646 | $1,611] | 5994 | $160,029 | $1,611 | $990 | $159,408 | $1,611] 5986 | $158,783| $1,611 5982 | $158.154 | $1,611 5978 | $157,521 | S1.611 | 5974 | $156, 885 | S1.611 | 5970 | $156.244 | S1.611 | 5966 | $155.599 | S1.611 | 5962 | S154950 51.511 5958 | 152.298 | 51.511 5954 | 13.5-11 1.511 5950 152280 1 51.511 5946| 15231.151511 39.21151.55] 51.511 5566 | 5166.719 ] 5569 | 5166.149 | 5573) 5165.577 557615165,000 ) $580 ) 5164.420 | 5584 | 5163.837 | 5587) 5163.250 | 5591 | 5162.659 | 5595 | $162,064 | 5598 | 5161.466 | 5602 | 5160.864 | $606 | $160.258 | 5610 | 5159,648 | 5613) $159,035 | 5617) $158.418 | 5621] 5157.797 | $625 | 157.172 | 5629 | $156.543 | $633 | 5155.910 | $637 | 5155.273 | 56411 5154.533 | $6451 5153.98 | 5549 5153.339 | 5653 5152.686 | 5657 $152.029 | 5661 5151368 | 5665 | 5150,703 | S669 | 5150.034 |
101] 102] 103|| 104|| 105| 106 | 107 106 | 109|| 110| 111| 112| 113| | 114| 115| 116| 117|| 118| 119|| 120 121] 122| 123|| $150.034 | $149 361 5142.683) $148.001 | 147.315 5146.624 1 $145.930 | $145.230 ) 5144.527] $143,819 | 5143.107」 5142.390 | $141.669 」 $140.943」 $140.213 $139,478 | $138.738 | $137.994 | $137.245 | $136.492) $135.734 | $134.971) 5134.204 5133.431 5132.654 5131.872 $131.025 $130.293 5938 | $150.372| 51.611| 9 32 | S150.294 | 1.511| 5929 | 149.612| 51.611] 9251 5148.926 」 $1.6111 9 21] 5148.235 」 $1.6111 5816 ) 147 41 | 51,511] 81215146.242 | 51.611] 20E | 146.138 」 $1,611 | 5903 | $145.430 | $1,511| 5899 」 $144.718 | $1,511| 5894 | 5144.001 | $1,611| 5890 」 $143,280 | $1.511| 5885 」 $142.554 | $1.511| 5881| $141,824 | $1.511| 5 876 | $141,089 」 $1,511| 5872 | $140.349 | $1,511| 5867) $139.505 | 51.511| 5862| 5138.857」 $1.611| 5858 | $138.103 | 51.511] 5853 | 5137.345 | $1.511) 5848 | $136.582| 51.511] 58AM) $135.315] 51.611) 5839 | 5135.042 | $1.511 | 5834 | 13.265 | 51.511| 5829 | S133483 | 51.511 | 5824 | 5132.656 | 51.511 | 5819 | 131204 | S1.611] S814 | S131.107 | 51.611] $673 | $149,361 5678 | 5148.683 56821 $148.001 5686 | 5147315 $690 | 5146.624 $695 | $145.930 5699 」 $145.230 ) 5703 | 5144.527 5708 | $143,819 | 5712 | $143.107 | $717」 $142,390 | 5721| $141.669 | 5726 | $140,943 | 5730 | $140,213 | 5735 | $139,478 5739 」 $138,738 | 5744 | $137.994 | $749 」 $137.245| 5753 | $136.492 | 5758 | $135.734 | 5763| $134.971| 5758 | 5134.204 | 5772) S133.431 | 5 1 5132.654 5782| 5131.372 | 578715131.085 | $7921 130.293 | 5797] 5129.496] 124 125| 126 127] 128
$129,496 $128,694 $127,887 $127,075 $126,258 $125,436 $124,609 $123,777 $122.939 $122,096 $121,248 $120,395 $119,536 $118,672 $117,803 $116,928 $116,047 $115,161 $114,270 $113,373 $112,470 $111,562 $110,648 $109,729 $108,803 $107,872 $106,935 $105,992 $809 5804 $799 $794 $789 $784 $779 $774 $768 $763 $758 $752 $747 $742 $736 $731 $725 $720 $714 $709 $703 $697 $692 $686 $680 $674 $668 $662 $130,305 $129,499 $128,687 $127,870 $127,048 $126,220 $125,388 $124,550 $123,708 $122,860 $122,006 $121,147 $120,283 $119,414 $118,539 $117,659 $116,773 $115,881 $114,984 $114,082 $113,173 $112,259 $111,340 $110,414 $109,483 S108 545 $108.546 $107,603 $106,655 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $802 $807 $812) $817 $822 $827 $832 $838 $843 $848 $853 $859 $864 $869 $875 $880 $886 $891 $897 $903 $908 $914 $920 $925 $931 $937 $943 $949 $128,694 $127,887 $127,075 $126,258 $125,436 $124,609 $123,777 $122.939 $122,096 $121,248 $120,395 $119,536 $118,672 $117,803 $116,928 $116,047 $115,161 $114,270 $113,373 $112,470 $111,562 $110,648 $109,729 $108,803 $107,872 $106,935 $105,992 $105,044 1531 154 1551 156
$955 $961 $967 $973 $979 $985 $991 $997 $105,044 $104,089 $103,128 $102,162 $101,189 $100,210 $99,225 $98,234 $97,237 $96,234 $95,224 $94,208 $93,185 $92,157 $91,121 $90,080 $89,032 $87,977 $86,916 $85,848 $84,773 $83,692 $82,603 $81,509 $80,407 $79,298 $78,183 $77,060 $657 | $105,700 $651 $104,739 $645 $103,773 $639 $102,800 $632 $101,821 S626 $100,836 $620 $99,845 $614 $98,848 $608 $97,845 5601 $96,835 $595 $95,819 SSR9 $94,797 $582 $93,768 S576 $92,733 S570 $91,691 $563 $90,643 $556 $89,588 $550 $88,527 $543 $87,459 $537 $86,384 $530 $85,303 $523 $84,215 $516 $83,120 $509 $82,018 $503 $80,909 $496 $79,794 $489 $78,671 $482 $77,542 $1,611 $1. $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,003 $1,010 $1,016 $1,022 $1,029 $1,035 $1,042 $1,048 $1,055 $1,061 $1,068 $1,075 $1,081 $1,088 $1,095 $1,102 $1,109 $1,116 $1,123 $1,130 $104,089 $103,128 $102,162 $101,189 $100,210 $99,225 $98,234 $97,237 $96,234 $95,224 $94,208 $93,185 $92,157 $91,121 $90,080 $89,032 $87,977 $86,916 $85,848 $84,773 $83,692 $82,603 $81,509 $80,407 $79,298 $78,183 $77,060 $75,930 179 180 1811 1821 183) 184
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213 $39,915 $38.553 $37,183 $35,804 $34,42 5180 214 215 2161 2171 2181 2191 2201 2211 2221 223 224 225 226 227 228 229 230 231 232 233 234 235 $41,268 $39,915 $38,553 $37,183 $35,804 $34,417 $33,021 $31,616 $30,203 $28,780 $27,349 $25,909 $24,459 $23,001 $21,534 $20,057 $18,571 $17,076 $15,572 $14,058 $12,534 $11,002 $9,459 $7,907 $6,345 $4,774 $3,192 $1,601 $41,526 $40,165 $38,794 $37,416 $36,028 $34,632 $33,227 $31,814 $30,391 $28,960 $27,520 $26,071 $24,612 $23,145 $21,668 $20,182 $18,687 $17,183 $15,669 $14,146 $12,613 $11,070 $9,518 $7,956 $6,385 $4,804 $3,212 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,611 $1,353 $1,362 $1,370 $1,379 $1,387 $1,396 $1,405 $1,414 $1,422 $1,431 $1,440 $1,449 $1,458 $1,467 $1,477 $1,486 $1,495 $1,504 $1,514 $1,523 $1,533 $1,542 $1,552 $1,562 $1,572 $1,581 $1,591 $1,601 $33,021 $31,616 $30,203 $28,780 $27,349 $25,909 $24,459 $23.001 $21,534 $20,057 $18,571 $17,076 $15,572 $14,058 $12,534 $11,002 $9,459 $7,907 $6,345 $4,774 $3,192 $1,601 $0 $107 597 $88 $78 $69 $59 $49 236 $40 237 238 239) 240 $30 $20 $10
Total $29,869,557 $186,685 $30,056,242 $386,685 $200,000 $29,669,557