Question

Excel template - Saved ale Home Insert Data Review View Help Tell me what you want to do Amortization schedule Loan amount to be repaid (PV) Interest rate () Length of loan (in years) $23,000.00 10.00% a. Setting up amortization table Calculation of loan payment Formula UNA Year Beginning Balance Repayment of Principal Payment Interest Remaining Balance b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Representing Interest Payment % Representing Principal Check Total 100% ON Formulas Repayment of Principal Beginning Balance Payment Interest Remaining Balance Sheet1

Answer 1

Amortization schedule PV $ 23,000.00 10% 3 t(years) 7 8 Setting up amortization table Calculation of loan payment Formula 9,248.64 --PMT(B4,B5,B3,,0) $ Year Beginning Balance $ 23,000.00 $ 16,051.36 $ 8,407.85 $ $ $ Repayment Remaining Payment Interest of Principal Balance 9,248.64 $2,300.00 $ 6,948.64 $16,051.36 9,248.64 $1,605.14 $ 7,643.50 $ 8,407.85 9,248.64 $ 340.79 $ 8,407.85 $ 15 Calculating % of payment Representing Interest and Principal for Each Year Payment % Payment % Check: Year Representing Representing Total = Interest Principal 100% 24.87% 75.13% 100.00% 17.36% 82.64% 100.00% 9.09% 90.91% 100.00%


Amortization schedule PV 23000 0.1 t(years) Setting up amortization table Calculation of loan payment Formula --PMT(B4,B5, B3, --PMT(B4,B5,B3,,0) Payment Interest =$B$8 =$B$8 =$B$8 =B11*10% =B12*10% =B13*10% Repayment of Remaining Principal Balance =C11-D11 =B11-E11 =C12-D12 =B12-E12 =C13-D13 =B13-E13 Beginning Year 10 Balance 111 =B3 12 2 =F11 13 3 =F12 14 15 yment Representing Interest and Pri Payment % Year Representing 16 Interest 17 1 =D11/C11 =D12/C12 19 3 =D13/C13 Check: Total = 100% Payment % Representing Principal =E11/C11 =E12/C12 =E13/C13 18 2 =C17+B17 =C18+B18 =C19+B19

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