Question

LIABILITIES owed of $ 60 All liabilities are community property debt. To whom Original Property Interes Current Paymen How Total # Date of Amount or Service t Rate Balancet often First Purchased (as of Amount paid Paymen Payment Account Jan ts 2018) GMAC 2 5,000 Nissan 4.5% Monthly 9/1/2016 Pathfinder Texas Tech 65,000 Mercedes 5.5% $ Monthly 60 12/1/2018 Credit CLS550 Union Nationwide 250,000 House 6.259 Monthly 360 9/1/2016 Mortgage Co. Department | 30,000 Student 7.5% Monthly 120 | 6/1/2009 Loans Education Wells Fargo 70,000 Student 5.25 Monthly 120 6/1/2014 Education Loans *Calculate the amounts that are missing using TVM calculations. of

For the problem we answer as if the Current date was January 1, 2018

Answer 1

Loan calculation table as below with formulae based on which calculations are done:

Owned to GMAC: Balance as of Jan 1, 2018 = $ 18,872.27 & Installment Payment per month = $ 466.08

Description Loan Amount Interest Rate per annum Interest Rate Per month Year No. of months per year Details Reference $ 25,000.00 P 4.50% 1 0.375% R M Amount at beginning of the month Balance at end of the month Total Payment Interest amount Principal repaid P*(R*(1+R)to the Closing balance of previous Instalment month power(Y*M))/ ((1+R)to the (1/M)*Opening power(Y*M))- balance of the Opening Balance less Total Payment less Princiapl Interest amount repaid Date loan 1 $ 21 3 5 7 1-Sep-16 1-Oct-16 1-Nov-16 1-Dec-16 1-Jan-17 1-Feb-17 1-Mar-17 1-Apr-17 1-May-17 1-Jun-17 1-Jul-17 1-Aug-17) 1-Sep-17 1-Oct-17 1-Nov-17 1-Dec-17 1-Jan-18 25,000.00 $24,627.67 $24,253.95 $23,878.83 $23,502.30 $23,124.36 $22,745.00 $22,364.22 $21,982.01 $21,598.37 $21,213.29 $20,826.76 $20,438.78 $20,049.35 $19,658.46 $19,266.10 $18,872.27 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $466.08 $93.75 $92.35 $90.95 $89.55 $88.13 $86.72 $85.29 $83.87 $82.43 $80.99 $79.55 $78.10 $76.65 $75.19 $73.72 $72.25 $70.77 $372.33 $373.72 $375.12 $376.53 $377.94 $379.36 $380.78 $382.21 $383.64 $385.08 $386.53 $387.98 $389.43 $390.89 $392.36 $393.83 $395.30 $24,627.67 $24,253.95 $23,878.83 $23,502.30 $23,124.36 $22,745.00 $22,364.22 $21,982.01 $21,598.37 $21,213.29 $20,826.76 $20,438.78 $20,049.35 $19,658.46 $19,266.10 $18,872.27 $18,476.97 10 12 13 14 15 16 17

Owned to Texas Tech Credit union: First payment commence only from Dec 2018; hence understood that loan has not availed as of Jan 2018. Thus not applicable.

Owned to Nationwide Mortgage Co. : Balance as on Jan 1, 2018 = $ 246,052.72 & Installment Payment per month = $ 1,539.29

Description Loan Amount Interest Rate per annum Interest Rate Per month Year No. of months per year Details Reference $ 250,000.00 P 6.25% 0 0.521% R 30 M Amount at beginning of the month Balance at end of the month Total Payment Interest amount Principal repaid P*(R*(1+R)to the Closing balance of previous Instalment month power(Y*M))/ ((1+R)to the (1/M)*Opening power(Y*M))- balance of the loan Opening Balance less Total Payment less Princiapl Interest amount repaid Date 1-Sep-16 1-Oct-16 1-Nov-16 1-Dec-16 1-Jan-17 1-Feb-17 1-Mar-17 1-Apr-17 1-May-17 1-Jun-17 1-Jul-17 1-Aug-17 1-Sep-17 1-Oct-17 1-Nov-17 1-Dec-17 1-Jan-18 11 $ 250,000.00 $249,762.79 3. $249,524.34 4 $249,284.65 5 $249,043.71 6 $248,801.52 $248,558.07 8 $248,313.35 9 $248,067.36 10 $247,820.08 11 $247,571.52 12 $247,321.66 13 $247,070.50 14 $246,818.03 15 $246,564.25 16 $246,309.15 17 $246,052.72 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,539.29 $1,302.08 $1,300.85 $1,299.61 $1,298.36 $1,297.10 $1,295.84 $1,294.57 $1,293.30 $1,292.02 $1,290.73 $1,289.44 $1,288.13 $1,286.83 $1,285.51 $1,284.19 $1,282.86 $1,281.52 $237.21 $238.45 $239.69 $240.94 $242.19 $243.45 $244.72 $245.99 $247.28 $248.56 $249.86 $251.16 $252.47 $253.78 $255.10 $256.43 $257.77 $249,762.79 $249,524.34 $249,284.65 $249,043.71 $248,801.52 $248,558.07 $248,313.35 $248,067.36 $247,820.08 $247,571.52 $247,321.66 $247,070.50 $246,818.03 $246,564.25 $246,309.15 $246,052.72 $245,794.95

Owned to Department of Education: Balance as of Jan 1 2018 = $ 5,726.27. Installment amount per month = $ 356.11

Description Loan Amount Interest Rate per annum Interest Rate Per month Year No. of months per year Details Reference $ 30,000.00 P 7.50% 0 0.625% R 12 M Amount at beginning of the month Balance at end of the month Total Payment Interest amount Principal repaid P*(R*(1+R)to the Closing balance of previous Instalment month power(Y*M))/ ((1+R)to the (1/M)*Opening power(Y*M))- balance of the Opening Balance less Total Payment less Princiapl Interest amount repaid Date loan 1 $ 4 8 100 131 14 15 171 18 21 257 26 1-Jun-09 1-Jul-09 1-Aug-09 1-Sep-09 1-Oct-09 1-Nov-09 1-Dec-09 1-Jan-10 1-Feb-10 1-Mar-10 1-Apr-10 1-May-10 1-Jun-10 1-Jul-101 1-Aug-10 1-Sep-10 1-Oct-10 1-Nov-100 1-Dec-10 1-Jan-11 1-Feb-11 1-Mar-11 1-Apr-11 1-May-11 1-Jun-11 1-Jul-11 1-Aug-11 1-Sep-11 1-Oct-11 1-Nov-11 1-Dec-11 1-Jan-12 1-Feb-12 1-Mar-12 1-Apr-12 1-May-12 1-Jun-12 1-Jul-12 1-Aug-12 1-Sep-12 1-Oct-12 1-Nov-12 1-Dec-12 1-Jan-13 1-Feb-13 1-Mar-131 1-Apr-13 1-May-13 1-Jun-13 1-Jul-13 1-Aug-13 1-Sep-13 1-Oct-13 1-Nov-13 1-Dec-13 1-Jan-14 1-Feb-14 1-Mar-14 1-Apr-14 30 321 33 34 37) 38 40 41 49 500 53 30,000.00 $29,831.39 $29,661.73 $29,491.01 $29,319.22 $29,146.36 $28,972.42 $28,797.39 $28,621.27 $28,444.05 $28,265.72 $28,086.28 $27,905.71 $27,724.02 $27,541.19 $27,357.22 $27,172.10 $26,985.82 $26,798.38 $26,609.76 $26,419.97 $26,228.99 $26,036.82 $25,843.44 $25,648.86 $25,453.06 $25,256.04 $25,057.78 $24,858.29 $24,657.55 $24,455.55 $24,252.29 $24,047.76 $23,841.95 $23,634.86 $23,426.47 $23,216.78 $23,005.78 $22,793.46 $22,579.81 $22,364.83 $22,148.50 $21,930.82 $21,711.78 $21,491.37 $21,269.59 $21,046.42 $20,821.85 $20,595.88 $20,368.50 $20,139.70 $19,909.47 $19,677.80 $19,444.68 $19,210.10 $18,974.06 $18,736.54 $18,497.54 $18,257.04 $18,015.04 $17,771.53 $17,526.50 $17,279.94 $17,031.83 $16,782.17 $16,530.95 $16,278.16 $16,023.79 $15,767.83 $15,510.27 $15,251.10 $14,990.31 $14,727.89 $14,463.83 $14,198.12 $13,930.75 $13,661.71 $13,390.99 $13,118.58 $12,844.47 $12,568.64 $12,291.09 $12,011.80 $11,730.77 $11,447.98 $11,163.42 $10,877.09 $10,588.97 $10,299.05 $10,007.31 $9,713.75 $9,418.36 $9,121.12 $8,822.02 $8,521.05 $8,218.20 $7,913.46 $7,606.81 $7,298.25 $6,987.76 $6,675.33 $6,360.95 $6,044.60 $5,726.27 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $356.11 $187.50 $186.45 $185.39 $184.32 $183.25 $182.16 $181.08 $179.98 $178.88 $177.78 $176.66 $175.54 $174.41 $173.28 $172.13 $170.98 $169.83 $168.66 $167.49 $166.31 $165.12 $163.93 $162.73 $161.52 $160.31 $159.08 $157.85 $156.61 $155.36 $154.11 $152.85 $151.58 $150.30 $149.01 $147.72 $146.42 $145.10 $143.79 $142.46 $141.12 $139.78 $138.43 $137.07 $135.70 $134.32 $132.93 $131.54 $130.14 $128.72 $127.30 $125.87 $124.43 $122.99 $121.53 $120.06 $118.59 $117.10 $115.61 $114.11 $112.59 $111.07 $109.54 $108.00 $106.45 $104.89 $103.32 $101.74 $100.15 $98.55 $96.94 $95.32 $93.69 $92.05 $90.40 $88.74 $87.07 $85.39 $83.69 $81.99 $80.28 $78.55 $76.82 $75.07 $73.32 $71.55 $69.77 $67.98 $66.18 $64.37 $62.55 $60.71 $58.87 $57.01 $55.14 $53.26 $51.36 $49.46 $47.54 $45.61 $43.67 $41.72 $39.76 $37.78 $35.79 $168.61 $169.66 $170.72 $171.79 $172.86 $173.94 $175.03 $176.12 $177.22 $178.33 $179.44 $180.57 $181.69 $182.83 $183.97 $185.12 $186.28 $187.44 $188.62 $189.79 $190.98 $192.17 $193.38 $194.58 $195.80 $197.02 $198.26 $199.49 $200.74 $202.00 $203.26 $204.53 $205.81 $207.09 $208.39 $209.69 $211.00 $212.32 $213.65 $214.98 $216.33 $217.68 $219.04 $220.41 $221.78 $223.17 $224.57 $225.97 $227.38 $228.80 $230.23 $231.67 $233.12 $234.58 $236.04 $237.52 $239.00 $240.50 $242.00 $243.51 $245.03 $246.56 $248.11 $249.66 $251.22 $252.79 $254.37 $255.96 $257.56 $259.17 $260.79 $262.42 $264.06 $265.71 $267.37 $269.04 $270.72 $272.41 $274.11 $275.83 $277.55 $279.29 $281.03 $282.79 $284.56 $286.33 $288.12 $289.92 $291.74 $293.56 $295.39 $297.24 $299.10 $300.97 $302.85 $304.74 $306.65 $308.56 $310.49 $312.43 $314.38 $316.35 $318.33 $320.32 $29,831.39 $29,661.73 $29,491.01 $29,319.22 $29,146.36 $28,972.42 $28,797.39 $28,621.27 $28,444.05 $28,265.72 $28,086.28 $27,905.71 $27,724.02 $27,541.19 $27,357.22 $27,172.10 $26,985.82 $26,798.38 $26,609.76 $26,419.97 $26,228.99 $26,036.82 $25,843.44 $25,648.86 $25,453.06 $25,256.04 $25,057.78 $24,858.29 $24,657.55 $24,455.55 $24,252.29 $24,047.76 $23,841.95 $23,634.86 $23,426.47 $23,216.78 $23,005.78 $22,793.46 $22,579.81 $22,364.83 $22,148.50 $21,930.82 $21,711.78 $21,491.37 $21,269.59 $21,046.42 $20,821.85 $20,595.88 $20,368.50 $20,139.70 $19,909.47 $19,677.80 $19,444.68 $19,210.10 $18,974.06 $18,736.54 $18,497.54 $18,257.04 $18,015.04 $17,771.53 $17,526.50 $17,279.94 $17,031.83 $16,782.17 $16,530.95 $16,278.16 $16,023.79 $15,767.83 $15,510.27 $15,251.10 $14,990.31 $14,727.89 $14,463.83 $14,198.12 $13,930.75 $13,661.71 $13,390.99 $13,118.58 $12,844.47 $12,568.64 $12,291.09 $12,011.80 $11,730.77 $11,447.98 $11,163.42 $10,877.09 $10,588.97 $10,299.05 $10,007.31 $9,713.75 $9,418.36 $9,121.12 $8,822.02 $8,521.05 $8,218.20 $7,913.46 $7,606.81 $7,298.25 $6,987.76 $6,675.33 $6,360.95 $6,044.60 $5,726.27 $5,405.95 58 কাজাকাকালকালান্সক্সক্সক্সক্সক্সভালাকান্তাভাতাজাকুল লাহাজালাললালল্লাল 1-May-14 60 61 62 647 65 69 70 74 78 81 82 1-Jun-14 1-Jul-14 1-Aug-14 1-Sep-14 1-Oct-14 1-Nov-14 1-Dec-14 1-Jan-15 1-Feb-15 1-Mar-15 1-Apr-15 1-May-15 1-Jun-15 1-Jul-15 1-Aug-15 1-Sep-15 1-Oct-15 1-Nov-15 1-Dec-15 1-Jan-16 1-Feb-16 1-Mar-16 1-Apr-16 1-May-16 1-Jun-16 1-Jul-16 1-Aug-16 1-Sep-16 1-Oct-16 1-Nov-16 1-Dec-16 1-Jan-17 1-Feb-17 1-Mar-171 1-Apr-17 1-May-17 1-Jun-17 1-Jul-17 1-Aug-17 1-Sep-17 1-Oct-17 1-Nov-171 1-Dec-17 1-Jan-18 84 85 86 89 90 97 101 102 103 104

Owned to Wells Fargo Education: Balance as of Jan 1, 2018 = $ 49,006.93; Installment payment per month = $ 751.04

Description Loan Amount Interest Rate per annum Interest Rate Per month Year No. of months per year Details Reference $ 70,000.00 P 5.25% 0.438% R 10 M Amount at beginning of the month Balance at end of the month Total Payment Interest amount Principal repaid P*(R*(1+R)to the Closing balance of previous Instalment month power(Y*M))/ ((1+R)to the (1/M) *Opening power(Y*M))- balance of the Opening Balance less Total Payment less Princiapl Interest amount repaid Date loan 1 $ 4 5 8 14 15 171 18 19 21 1-Jun-14 1-Jul-14 1-Aug-14 1-Sep-14 1-Oct-14 1-Nov-14 1-Dec-14 1-Jan-15 1-Feb-15 1-Mar-15 1-Apr-15 1-May-15 1-Jun-15 1-Jul-15 1-Aug-15 1-Sep-15 1-Oct-15 1-Nov-15 1-Dec-15 1-Jan-16 1-Feb-16 1-Mar-16 1-Apr-16 1-May-16 1-Jun-16 1-Jul-16 1-Aug-16 1-Sep-16 1-Oct-16 1-Nov-16 1-Dec-16 1-Jan-17 1-Feb-17 1-Mar-17 1-Apr-17 1-May-17 1-Jun-17 1-Jul-17 1-Aug-17 1-Sep-17 1-Oct-17 1-Nov-17 1-Dec-17 1-Jan-18 70,000.00 $69,555.21 $69,108.47 $68,659.78 $68,209.12 $67,756.49 $67,301.88 $66,845.28 $66,386.69 $65,926.09 $65,463.47 $64,998.83 $64,532.16 $64,063.45 $63,592.69 $63,119.87 $62,644.98 $62,168.01 $61,688.95 $61,207.80 $60,724.54 $60,239.17 $59,751.67 $59,262.04 $58,770.27 $58,276.35 $57,780.27 $57,282.02 $56,781.59 $56,278.97 $55,774.15 $55,267.12 $54,757.87 $54,246.39 $53,732.68 $53,216.72 $52,698.50 $52,178.01 $51,655.25 $51,130.20 $50,602.85 $50,073.20 $49,541.23 $49,006.93 সুত্রভজাল মান্নাল সাদা স্রক্ষাকালজান মালায়লাল্লাজলজছালাস্কা $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $751.04 $306.25 $304.30 $302.35 $300.39 $298.41 $296.43 $294.45 $292.45 $290.44 $288.43 $286.40 $284.37 $282.33 $280.28 $278.22 $276.15 $274.07 $271.99 $269.89 $267.78 $265.67 $263.55 $261.41 $259.27 $257.12 $254.96 $252.79 $250.61 $248.42 $246.22 $244.01 $241.79 $239.57 $237.33 $235.08 $232.82 $230.56 $228.28 $225.99 $223.69 $221.39 $219.07 $216.74 $214.41 $444.79 $446.74 $448.69 $450.66 $452.63 $454.61 $456.60 $458.59 $460.60 $462.62 $464.64 $466.67 $468.71 $470.76 $472.82 $474.89 $476.97 $479.06 $481.15 $483.26 $485.37 $487.50 $489.63 $491.77 $493.92 $496.08 $498.25 $500.43 $502.62 $504.82 $507.03 $509.25 $511.48 $513.71 $515.96 $518.22 $520.49 $522.76 $525.05 $527.35 $529.65 $531.97 $534.30 $536.64 $69,555.21 $69,108.47 $68,659.78 $68,209.12 $67,756.49 $67,301.88 $66,845.28 $66,386.69 $65,926.09 $65,463.47 $64,998.83 $64,532.16 $64,063.45 $63,592.69 $63,119.87 $62,644.98 $62,168.01 $61,688.95 $61,207.80 $60,724.54 $60,239.17 $59,751.67 $59,262.04 $58,770.27 $58,276.35 $57,780.27 $57,282.02 $56,781.59 $56,278.97 $55,774.15 $55,267.12 $54,757.87 $54,246.39 $53,732.68 $53,216.72 $52,698.50 $52,178.01 $51,655.25 $51,130.20 $50,602.85 $50,073.20 $49,541.23 $49,006.93 $48,470.29 257 30 321 33 35 39 42 43 44