ZuoTi.Pro
Question
Use excel
A car is purchased with a 48 month and 9%/year compounding monthly rate with an initial balance of $15000. What is the balance due half way through the 4 years?
For example.. I want it looks like that.
01 cf 150000 -1000 -1000 -1000 -1000 4000 cf -200000 -1500 1500 1500 1500 5500 0 2 4 ($535.27) ($1,159.39) pv ($150,535.27) ($201,159.39)
business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

PVIFA for n=48, i=996/12 i.e. 0.75% :40.185 Monthly payment to be made for 48 month loan of $15,000; 9% pa rate compounded monthly is $15,000/40.185 $260.78 rincipa CI Principal Month Op PrincipaInterest Repaid Amount (a * 0.75%) | ($373.28-b) | (a-c) 1 15,000.00 112.50$ 260.78 14,739.22 2 $ 14,739.22$110.54$ 262.73$ 14,476.49 3 $ 108.57 264.70 14,211.79 4 $ 14,211.79 106.59 266.69 13,945.10 5 $ 13,945.10$104.59 $ 268.69 $ 13,676.42 6 $13,676.42 102.57$270.70$ 13,405.71 7 $ 13,405.71100.54$ 272.73 13,132.98 8 $ 13,132.98 98.50 $274.7812,858.20 9 $ 12,858.20 $ 10 12,581.36 $94.36 278.92 12,302.45 11 12,302.4592.27$281.0112,021.44 12 $12,021.44 $ 13 $ 11,738.33$88.04$285.24 $ 11,453.09 14 $ 11,453.09 S 15 11,165.7183.74 $ 289.5310,876.18 16 $10,876.18 $ 17 $ 10,584.47 $ 18 $ 10,290.58 $ 19 $ 9,994.49 $ 20 $ 9,696.17$72.72$ 300.55$ 9,395.61 21$ 9,395.61 $ 22 $ 9,092.81| 68.20 305.08 8,787.73 23 |$8,787.73 | $ б591 | $ 307.37 | $ 8,480.36 24 $ 8,480.36$ 63.60$309.67$ 8,170.68 25 |$ 8,170.68|$ 26 $ 7,858.69 $ 27 $7,544.35$ 28$ 7,227.66 $ 29 $ 6,908.59 51.81 321.46 6,587.13 30 6,587.1349.40 $323.87 6,263.26 31 $ 6,263.26 $ 32 $ 5,936.96 33 $ 5,608.21 $ 34 $ 5,277.0039.58$333.70 4,943.30 35 $ 4,943.30 $ 36 S 4,607.10S 34.55 S 33.72S4,268.37 37 $ 4,268.37$ 38 $3,927.11 $ 39 40 $ 3,236.89 $ 41 2,887.8921.66 351.62 2,536.27 42 $ 2,536.27 $ 43 $ 2,182.02$16.37 $ 356.91 $ 1,825.11 44 $ 1,825.11 13.69359.59 1,465.52 45 S 1,465.52 $ 46 $ 1,103.24 $ 47 $ 738.24 $ 48 370.50 $ 14,476.49 $ 96.44$ 276.84$ 12,581.36 90.16 283.11 $ 11,738.33 85.90$ 287.38 $ 11,165.71 81.57 291.70$ 10,584.47 79.38 293.8910,290.58 77.18 $ 296.10 9,994.49 74.96 $ 298.32 $9,696.17 70.47 $ 302.81$ 9,092.81 61.28 312.00$7,858.69 58.94$ 314.34$ 7,544.35 56.58 $ 316.69$ 7,227.66 54.21$ 319.07$ 6,908.59 46.97$ 326.30 $ 5,936.96 $44.53 328.75 5,608.21 42.06 331.21 5,277.00 37.07 $ 336.20 $ 4,607.10 $32.01 341.26 3,927.11 29.45$343.82$ 3,583.29 26.87 $ 346.40 $ 3,236.89 24.28 $ 349.002,887.89 19.02 354.25$ 2,182.02 10.99 $ 362.28 $ 1,103.24 8.27 $ 365.00 $ 5.54$ 367.74$ 2.78 $ 370.50 $ 738.24 370.50

From the above, we can see that the balance due after 24 months of repayment is $8,170.68.

0 0
Add a comment
Know the answer?
Add Answer to:
Use excel For example.. I want it looks like that. A car is purchased with a...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Use Excel For example.. I want it looks like that. An engineer wanted to celebrate graduating...

    Use Excel For example.. I want it looks like that. An engineer wanted to celebrate graduating and getting a job by buying a new furniture $2400 Luckily the store was offering 6-month financing at an interest of 6%/year compounding monthly. Calculate the monthly payment. 01 cf 150000 -1000 -1000 -1000 -1000 4000 СТ 200000 1500 1500 1500 1500 5500 0 1 2 4 5 npv pv ($535.27) 1,159.39) ($150,535.27) ($201,159.39) I -

  • Use Excel For example.. I want it looks like that Two years ago, you bought 100...

    Use Excel For example.. I want it looks like that Two years ago, you bought 100 shares of XYZ stock at $60 per share. The stock paid a dividend of $6 per share per quarter. If you sell the shares now for $98 per share, what is your annual ROR on this investment? cf 150000 -1000 -1000 -1000 -1000 4000 cf -200000 1500 1500 1500 1500 5500 0 1 2 ($535.27)($1,159.39) pv ($150,535.27) ($201,159.39) npv pv

  • Use Excel For example.. I want it looks like that 6.37 A small manufacturing company expects...

    Use Excel For example.. I want it looks like that 6.37 A small manufacturing company expects to expand its operation by adding new product lines. Any or all of four new lines can be added. If the company uses a MARR of 15% per year and a 5-year project period, which products, if any, should the company manufacture? Monetary terms are in $1000. Product 3 Initial cost, $ Annual cost, S/year Annual savings, S/year 40-500 64 180 190 570-620 70...

  • Use Excel For example.. I want it looks like that 7.21 From the following data, calculate...

    Use Excel For example.. I want it looks like that 7.21 From the following data, calculate the (a) conven tional and (b) modified benefit/cost ratios using a discount rate of 6% per year and a very long (in nite) project life. To the People To the Government Benefits:$300,000 now Costs: $1.5 million novw and $100,000 per year thereafter $40,000 per year and $200,000 three years from now Disbenefits: Savings: $70,000 per year 0 1 2 3 4 cf 150000 -1000...

  • Use Excel For example.. I want it looks like that 6.38 A WiMAX wireless network integrated...

    Use Excel For example.. I want it looks like that 6.38 A WiMAX wireless network integrated with a satellite network can provide connectivity to any location within 10 km of the base station. The number of sectors per base station can be varied to increase the bandwidth. An independent cable operator is considering the three bandwidth alter- natives shown below (monetary values in $1000 units). Assume a life of 20 years and a MARR of 25% per year to determine...

  • Use Excel For example.. I want it looks like that 53 Faro laser trackers are portable...

    Use Excel For example.. I want it looks like that 53 Faro laser trackers are portable contact measure- ment systems that use laser technology to measure large parts and machinery to accuracies of 0.0002 inches across a wide range of industrial applica- tions. A customer that manufactures and installs cell phone relay dishes and satellite receiving sta- tions reported the cash flows (in $1000 units) for one of its product lines. (a) Determine the number of possible rate of return...

  • Use Excel For example.. I want it looks like that At the end of 1987, you...

    Use Excel For example.. I want it looks like that At the end of 1987, you bought a piece of land for $35,000. In addition to the $35,000, you paid $1,700 in closing costs (costs associated with the purchase and title registration). For the years 1988 through 2002, you paid, on average, $950 in property taxes at the end of each year. At the end of 2003, you sold the land for $120,000. A sale time, you paid a 6%...

  • A car is purchased with a 48 month and 9%/year compounding monthly rate with an initial...

    A car is purchased with a 48 month and 9%/year compounding monthly rate with an initial balance of $15000. What is the balance due halfway through the 4 years? SHOW HOW TO SOLVE ON EXCEL

  • Hello, i want to ask you Inventory cost =3.6(B1+B2)/2+3.75(B2+B3)/2+3.98(B3+B4)/2+4.28(B4+B5)/2+4.2(B5+B6)/2+3.9(B6+B7)/2, So, how to compute 3.6, 3.75, 3.98,...

    Hello, i want to ask you Inventory cost =3.6(B1+B2)/2+3.75(B2+B3)/2+3.98(B3+B4)/2+4.28(B4+B5)/2+4.2(B5+B6)/2+3.9(B6+B7)/2, So, how to compute 3.6, 3.75, 3.98, 4.28, 4.2? And why 3.6X(B1+B2) and divide by 2? Also, i want to ask the objective function for this problem why is minimize, not maximize? Thank you for your help! The Upton Corporation manufactures heavy-duty air compressors for the home and light industrial markets. Upton is presently trying to plan its production and inventory levels for the next six months. Because of seasonal fluctuations...

  • Use this Excel Culminating Project Template (SEE SCREENSHOT BELOW) to help you get started with your...

    Use this Excel Culminating Project Template (SEE SCREENSHOT BELOW) to help you get started with your budget You are the president of Campus Sweaters, Inc. Campus Sweaters manufacturers wool pullover v-neck sweaters of various sizes and colors. You are preparing the budgets for the first quarter of 2016 (January, February, and March). You have the following historical and projected sales in units: Actual or Projected Month Units Actual November 9,000 Actual December 8,000 Projected January 11,000 Projected February 10,000 Projected...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT