Question

zoom if needed, please. Missing the last question, the system says I have it wrong

Sharon Fox decided to buy a home in Marblehead, Massachusetts, for $287,000. Her bank requires a 30% down payment. Sue Willis, an attorney, has notified Sharon that besides the 30% down payment there will be the following additional costs: (Use Table 15.1.). Recording of the deed A credit and appraisal report Preparation of appropriate documents $42.00 167.00 60.00 Other closing expenses include a transfer tax of 1.8% of the purchase price and a loan origination fee of 2.5% of the mortgage amount Assume a 30-year mortgage at a rate of 10.0% a. What is the initial amount of cash Sharon will need? (Do not round intermediate calculations. Round your answer to the nearest cent.) Initial amount $ 96557.50 b. What is her monthly payment? (Do not round intermediate calculations. Round your answer to the nearest cent.) Monthly payment $ 1763.90 c. What is the total cost of interest over the life of the mortgage? (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Total cost of interest

Answer 1

• Total cost = 287000
• Down payment = 30% x 287000 = 86100
• Additional costs = 42+167+60 +1.8% x 287000 + 2.5% x 0.7 x 287000
  • Additional costs = 96557.5

We are given the following information

r	10.00%
n	30
frequency	12(monthly)
PV	$   2,00,900.00

We need to solve the following equation to arrive at the required PMT

1- (1+ 1 )-nx frequency PV = PMT X- frequency 200900 = PMT 1-(1+0:1) –30x12 PMT = 1763.04

• Total cost of interest = Sum of all the payments - Loan amount
• Total cost of interest = 360 * 1763.04 - 200900 = 433794

Amortization schedule is as follows:

1 $ 2 $ 3 $ 2,00,900.00 $ 2,00,811.13 $ 2,00,721.51 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,674.17 $ 1,673.43 $ 1,672.68 $ 5 $ 6 $ 7 $ 8 $ 9 $ 10 $ 11 $ 2,00,540.03 $ 2,00,448.16 $ 2,00,355.52 $ 2,00,262.11 $ 2,00,167.92 $ 2,00,072.94 $ 1,99,977.17 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,671.17 $ 1,670.40 $ 1,669.63 $ 1,668.85$ 1,668.07 $ 1,667.27 $ 1,666.48$ 88.87 $ 2,00,811.13 89.62 $ 2,00,721.51 90.36 $ 2,00,631.15 91.12 $ 2,00,540.03 91.87 $ 2,00,448.16 92.64 $ 2,00,355.52 93.41 $ 2,00,262.11 94.19 $ 2,00,167.92 94.98 $ 2,00,072.94 95.77 $ 1,99,977.17 96.56 $ 1,99,880.61 97.37 $ 1,99,783.24 98.18 $ 1,99,685.06 99.00 $ 1,99,586.06 99.82 $ 1,99,486.24 100.66 $ 1,99,385.58 101.49 $ 1,99,284.08 102.34 $ 1,99,181.74 103.19 $ 1,99,078.55 13 $ 14 $ 15 $ 16 $ 17 $ 18 $ 19 $ 1,99,783.24 $ 1,99,685.06 $ 1,99,586.06 $ 1,99,486.24 $ 1,99,385.58 $ 1,99,284.08 $ 1,99,181.74 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,664.86 $ 1,664.04 $ 1,663.22 $ 1,662.39 $ 1,661.55 $ 1,660.70 $ 1,659.85 $ 21 $ 22 $ 23 $ 24 $ 25 $ 26 $ 271 $ 1,98,974.50 $ 1,98,869.58 $ 1,98,763.78 $ 1,98,657.11 $ 1,98,549.54 $ 1,98,441.08 $ 1,98,331.71 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,658.12 $ 1,657.25 $ 1,656.36 $ 1,655.48 $ 1,654.58 $ 1,653.68 $ 1,652.76 $ 104.92 $ 105.79 $ 106.68 $ 107.57 $ 108.46 $ 109.37 $ 110.28 $ 1,98,869.58 1,98,763.78 1,98,657.11 1,98,549.54 1,98,441.08 1,98,331.71 1,98,221.44 29 $ 30 $ 31 $ 32 $ 33 $ 34 $ 35 $ 36 $ 37 $ 38 $ 39 $ 40 $ 41 $ 42 $ 43 $ 44 $ 45 $ 46 $ 47 $ 48 $ 49 $ 50 $ 51 $ 52 $ 53 $ 54 $ 55 $ 56 $ 57 $ 58 $ 59 $ 60 $ 61 $ 62 $ 63 $ 64 $ 65 $ 66 $ 67 $ 68 $ 69 $ 70 $ 71 $ 72 $ 73 $ 74 $ 75 $ 1,98,110.24 $ 1,97,998.12$ 1,97,885.06 $ 1,97,771.06 $ 1,97,656.11$ 1,97,540.21 $ 1,97,423.33 $ 1,97,305.49 $ 1,97,186.66 $ 1,97,066.84 $ 1,96,946.02 $ 1,96,824.20 $ 1,96,701.36 $ 1,96,577.49 $ 1,96,452.60 $ 1,96,326.66 $ 1,96,199.67 $ 1,96,071.63 $ 1,95,942.52 $ 1,95,812.33 $ 1,95,681.06 $ 1,95,548.70 $ 1,95,415.23 $ 1,95,280.65 $ 1,95,144.94 $ 1,95,008.11 $ 1,94,870.14 $ 1,94,731.01 $ 1,94,590.73 $ 1,94,449.28 $ 1,94,306.65 $ 1,94,162.83 $ 1,94,017.81 $ 1,93,871.58 $ 1,93,724.14 $ 1,93,575.47 $ 1,93,425.55 $ 1,93,274.39 $ 1,93,121.97 $ 1,92,968.28 $ 1,92,813.31 $ 1,92,657.04 $ 1,92,499.48$ 1,92,340.60 $ 1,92,180.39 $ 1,92,018.86$ 1,91,855.97 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,650.92 $ 1,649.98 $ 1,649.04 $ 1,648.09 $ 1,647.13 $ 1,646.17 $ 1,645.19 $ 1,644.21 $ 1,643.22 $ 1,642.22 $ 1,641.22 $ 1,640.20 $ 1,639.18 $ 1,638.15$ 1,637.10 $ 1,636.06 $ 1,635.00 $ 1,633.93 $ 1,632.85 $ 1,631.77 $ 1,630.68 $ 1,629.57 $ 1,628.46 $ 1,627.34 $ 1,626.21 $ 1,625.07 $ 1,623.92 $ 1,622.76 $ 1,621.59 $ 1,620.41 $ 1,619.22 $ 1,618.02 $ 1,616.82 $ 1,615.60 $ 1,614.37| $ 1,613.13 $ 1,611.88 $ 1,610.62 $ 1,609.35 $ 1,608.07 $ 1,606.78 $ 1,605.48 $ 1,604.16 $ 1,602.84 $ 1,601.50 $ 1,600.16 $ 1,598.80 $ 77 $ 78 $ 79 $ 80 $ 81 $ 82 $ 83 $ 84 $ 85 $ 86 $ 87 $ 88 $ 89 $ 90 $ 91 $ 1,91,526.12 $ 1,91,359.13 $ 1,91,190.75 $ 1,91,020.96 $ 1,90,849.76 $ 1,90,677.14 $ 1,90,503.07 $ 1,90,327.56 $ 1,90,150.58 $ 1,89,972.12 $ 1,89,792.18 $ 1,89,610.74 $ 1,89,427.79 $ 1,89,243.32 $ 1,89,057.30 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,596.05 $ 1,594.66 $ 1,593.26 $ 1,591.84 $ 1,590.41 $ 1,588.98 $ 1,587.53 $ 1,586.06 $ 1,584.59 $ 1,583.10 $ 1,581.60 $ 1,580.09 $ 1,578.56 $ 1,577.03 $ 1,575.48$ 93 $ 94 $ 95 $ 1,88,680.61 $ 1,88,489.91 $ 1,88,297.62 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,572.34 $ 1,570.75 $ 1,569.15 $ 97 $ 98 $ 99 $ 1,87,908.21 $ 1,87,711.07 $ 1,87,512.29 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,565.90 $ 1,564.26 $ 1,562.60 $ 101 $ 102 $ 103 $ 104 $ 105 $ 106 $ 107 $ 1,87,109.74 $ 1,86,905.95 $ 1,86,700.46 $ 1,86,493.25 $ 1,86,284.32 $ 1,86,073.65 $ 1,85,861.22 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,559.25 $ 1,557.55 $ 1,555.84 $ 1,554.11 $ 1,552.37 $ 1,550.61 $ 1,548.84 $ 109 $ 110 $ 111 $ 1,85,431.04 $ 1,85,213.26 $ 1,84,993.66 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,545.26 $ 1,543.44 $ 1,541.61 $ 113 $ 114 $ 115 $ 1,84,548.96 $ 1,84,323.83 $ 1,84,096.82 $ 1,763.04 1,763.04 1,763.04 $ $ $ 1,537.91 $ 1,536.03 $ 1,534.14 $ 117 $ 118 $ 119 $ 120 $ 121 $ 122 $ 123 $ 1,83,637.11$ 1,83,404.38 $ 1,83,169.71 $ 1,82,933.08 $ 1,82,694.48 $ 1,82,453.89 $ 1,82,211.30 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,530.31 $ 1,528.37 $ 1,526.41 $ 1,524.44 $ 1,522.45 $ 1,520.45 $ 1,518.43 $ 125 $ 126 $ 127 $ 128 $ 129 $ 130 $ 131 $ 132 $ 133 $ 134 $ 135 $ 136 $ 137) $ 138 $ 139 $ 1,81,720.04 $ 1,81,471.33 $ 1,81,220.55 $ 1,80,967.68 $ 1,80,712.70 $ 1,80,455.60 $ 1,80,196.35 $ 1,79,934.95 $ 1,79,671.37 $ 1,79,405.59 $ 1,79,137.59 $ 1,78,867.36 $ 1,78,594.88 $ 1,78,320.13 $ 1,78,043.09 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,514.33 $ 1,512.26 $ 1,510.17 $ 1,508.06 $ 1,505.94 $ 1,503.80 $ 1,501.64 $ 1,499.46 $ 1,497.26 $ 1,495.05 $ 1,492.81 $ 1,490.56 $ 1,488.29 $ 1,486.00 $ 1,483.69 $ 141 $ 142 $ 143 $ 1,77,482.07 $ 1,77,198.04 $ 1,76,911.65 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,479.02 $ 1,476.65 $ 1,474.26 $ 145 $ 146 $ 147 $ 148 $ 149 $ 150 $ 151 $ 152 $ 153 $ 154 $ 155 $ 156 $ 157 $ 158 $ 159 $ 160 $ 161 $ 162 $ 163 $ 164 $ 165 $ 166 $ 167 $ 168 $ 169 $ 170 $ 171 $ 1,76,331.69 $ 1,76,038.08 $ 1,75,742.02 $ 1,75,443.50 $ 1,75,142.49 $ 1,74,838.96 $ 1,74,532.91 $ 1,74,224.31 $ 1,73,913.14 $ 1,73,599.38 $ 1,73,283.00 $ 1,72,963.98 $ 1,72,642.31 $ 1,72,317.95 $ 1,71,990.89 $ 1,71,661.11 $ 1,71,328.58 $ 1,70,993.27 $ 1,70,655.18 $ 1,70,314.26 $ 1,69,970.51 $ 1,69,623.89 $ 1,69,274.38 $ 1,68,921.95 $ 1,68,566.60 $ 1,68,208.28 $ 1,67,846.97$ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,469.43 $ 1,466.98 $ 1,464.52 $ 1,462.03 $ 1,459.52 $ 1,456.99 $ 1,454.44 $ 1,451.87 $ 1,449.28 $ 1,446.66 $ 1,444.02 $ 1,441.37 $ 1,438.69 $ 1,435.98 $ 1,433.26 $ 1,430.51 $ 1,427.74 $ 1,424.94 $ 1,422.13 $ 1,419.29 $ 1,416.42 $ 1,413.53 $ 1,410.62 $ 1,407,68 $ 1,404.72 $ 1,401.74 $ 1,398.72 $ 112.12 $ 113.06 $ 114.00 $ 114.95 $ 115.91 $ 116.87 $ 117.85 $ 118.83 $ 119.82 $ 120.82 $ 121.82 $ 122.84 $ 123.86 $ 124.90 $ 125.94 $ 126.99$ 128.04 $ 129.11 $ 130.19 $ 131.27 $ 132.37 $ 133.47 $ 134.58 $ 135.70 $ 136.83 $ 137.97 $ 139.12 $ 140.28 $ 141.45 $ 142.63 $ 143.82 $ 145.02 $ 146.23 $ 147.44 $ 148.67$ 149.91 $ 151.16 $ 152.42 $ 153.69$ 154.97 $ 156.26 $ 157.57 $ 158.88 $ 160.20 $ 161.54 $ 162.88 $ 164.24 $ 165.61 $ 166.99 $ 168.38 $ 169.79 $ 171.20 $ 172.63 $ 174.07 $ 175.52 $ 176.98 $ 178.45 $ 179.94 $ 181.44 $ 182.95 $ 184.48 $ 186.01 $ 187.56 $ 189.13 $ 190.70 $ 192.29 $ 193.89 $ 195.51 $ 197.14 $ 198.78 $ 200.44 $ 202.11 $ 203.79 $ 205.49 $ 207.20 $ 208.93 $ 210.67 $ 212.43 $ 214.20 $ 215.98 $ 217.78 $ 219.60 $ 221.43 $ 223.27 $ 225.13 $ 227.01 $ 228.90 $ 230.81 $ 232.73 $ 234.67$ 236.63 $ 238.60 $ 240.59 $ 242.59 $ 244.61 $ 246.65 $ 248.71 $ 250.78 $ 252.87 $ 254.98 $ 257.10 $ 259.24 $ 261.41 $ 263.58 $ 265.78 $ 267.99 $ 270.23 $ 272.48$ 274.75 $ 277.04 $ 279.35 $ 281.68 $ 284.02 $ 286.39 $ 288.78 $ 291.18 $ 293.61 $ 296.06 $ 298.52 $ 301.01 $ 303.52 $ 306.05 $ 308.60 $ 311.17 $ 313.77 $ 316.38 $ 319.02 $ 321.67 $ 324.36 $ 327.06 $ 329.78 $ 332.53 $ 335.30 $ 338.10 $ 340.91 $ 343.76 $ 346.62 $ 349.51 $ 352.42 $ 355.36 $ 358.32 $ 361.31 $ 364.32 $ 367.35 $ 370.41 $ 373.50 $ 376.61 $ 379.75 $ 382.92 $ 386.11 $ 389.32 $ 392.57 $ 395.84 $ 399.14 $ 402.47 $ 405.82 $ 409.20 $ 412.61 $ 416.05 $ 419.52 $ 423.01 $ 426.54 $ 430.09$ 433.68 $ 437.29 $ 440.93 $ 444.61 $ 448.31 $ 452.05 $ 455.82 $ 459.62 $ 463.45 $ 467.31 $ 471.20 $ 475.13 $ 479.09 $ 483.08 $ 487.11 $ 491.16 $ 495.26 $ 499.39 $ 503.55 $ 507.74 $ 511.97 $ 516.24 $ 520.54 $ 524.88 $ 529.25 $ 533.66 $ 538.11 $ 542.60 $ 547.12 $ 551.68 $ 556.27 $ 560.91 $ 565.58 $ 570.30 $ 575.05 $ 579.84$ 584.67 $ 589.55$ 594.46 $ 599.41 $ 604.41 $ 609.45 $ 614.52 $ 619.64 $ 624.81 $ 630.02 $ 635.27 $ 640.56 $ 645.90 $ 651.28 $ 656.71 $ 662.18 $ 667.70 $ 673.26 $ 678.87 $ 684.53 $ 690.23 $ 695.99 $ 701.79 $ 707.63 $ 713.53 $ 719.48$ 725.47 $ 731.52 $ 737.61 $ 743.76 $ 749.96 $ 756.21 $ 762.51 $ 768.86 $ 775.27 $ 781.73 $ 788.25 $ 794.82 $ 801.44 $ 808.12 $ 814.85 $ 821.64 $ 828.49 $ 835.39 $ 842.36 $ 849.38 $ 856.45 $ 863.59 $ 870.79 $ 878.04 $ 885.36 $ 892.74 $ 900.18 $ 907.68 $ 915.24 $ 922.87 $ 930.56 $ 938.32 $ 1,97,998.12 1,97,885.06 1,97,771.06 1,97,656.11 1,97,540.21 1,97,423.33 1,97,305.49 1,97,186.66 1,97,066.84 1,96,946.02 1,96,824.20 1,96,701.36 1,96,577.49 1,96,452.60 1,96,326.66 1,96,199.67 1,96,071.63 1,95,942.52 1,95,812.33 1,95,681.06 1,95,548.70 1,95,415.23 1,95,280.65 1,95,144.94 1,95,008.11 1,94,870.14 1,94,731.01 1,94,590.73 1,94,449.28 1,94,306.65 1,94,162.83 1,94,017.81 1,93,871.58 1,93,724.14 1,93,575.47 1,93,425.55 1,93,274.39 1,93,121.97 1,92,968.28 1,92,813.31 1,92,657.04 1,92,499.48 1,92,340.60 1,92,180.39 1,92,018.86 1,91,855.97 1,91,691.73 1,91,526.12 1,91,359.13 1,91,190.75 1,91,020.96 1,90,849.76 1,90,677.14 1,90,503.07 1,90,327.56 1,90,150.58 1,89,972.12 1,89,792.18 1,89,610.74 1,89,427.79 1,89,243.32 1,89,057.30 1,88,869.74 1,88,680.61 1,88,489.91 1,88,297.62 1,88,103.72 1,87,908.21 1,87,711.07 1,87,512.29 1,87,311.85 1,87,109.74 1,86,905.95 1,86,700.46 1,86,493.25 1,86,284.32 1,86,073.65 1,85,861.22 1,85,647.03 1,85,431.04 1,85,213.26 1,84,993.66 1,84,772.24 1,84,548.96 1,84,323.83 1,84,096.82 1,83,867.92 1,83,637.11 1,83,404.38 1,83,169.71 1,82,933.08 1,82,694.48 1,82,453.89 1,82,211.30 1,81,966.69 1,81,720.04 1,81,471.33 1,81,220.55 1,80,967.68 1,80,712.70 1,80,455.60 1,80,196.35 1,79,934.95 1,79,671.37 1,79,405.59 1,79,137.59 1,78,867.36 1,78,594.88 1,78,320.13 1,78,043.09 1,77,763.74 1,77,482.07 1,77,198.04 1,76,911.65 1,76,622.87 1,76,331.69 1,76,038.08 1,75,742.02 1,75,443.50 1,75,142.49 1,74,838.96 1,74,532.91 1,74,224.31 1,73,913.14 1,73,599.38 1,73,283.00 1,72,963.98 1,72,642.31 1,72,317.95 1,71,990.89 1,71,661.11 1,71,328.58 1,70,993.27 1,70,655.18 1,70,314.26 1,69,970.51 1,69,623.89 1,69,274.38 1,68,921.95 1,68,566.60 1,68,208.28 1,67,846.97 1,67,482.65 1,67,115.30 1,66,744.89 1,66,371.39 1,65,994.77 1,65,615.02 1,65,232.11 1,64,846.00 1,64,456.68 1,64,064.11 1,63,668.27 1,63,269.13 1,62,866.66 1,62,460.84 1,62,051.64 1,61,639.03 1,61,222.98 1,60,803.46 1,60,380.45 1,59,953.92 1,59,523.82 1,59,090.15 1,58,652.86 1,58,211.92 1,57,767.31 1,57,319.00 1,56,866.95 1,56,411.13 1,55,951.52 1,55,488.07 1,55,020.77 1,54,549.56 1,54,074.44 1,53,595.35 1,53,112.27 1,52,625.16 1,52,134.00 1,51,638.74 1,51,139.36 1,50,635.81 1,50,128.07 1,49,616.09 1,49,099.85 1,48,579.31 1,48,054.43 1,47,525.17 1,46,991.51 1,46,453.40 1,45,910.80 1,45,363.68 1,44,812.01 1,44,255.73 1,43,694.82 1,43,129.24 1,42,558.94 1,41,983.89 1,41,404.05 1,40,819.37 1,40,229.83 1,39,635.37 1,39,035.95 1,38,431.54 1,37,822.10 1,37,207.58 1,36,587.93 1,35,963.12 1,35,333.11 1,34,697.84 1,34,057.28 1,33,411.39 1,32,760.11 1,32,103.40 1,31,441.22 1,30,773.52 1,30,100.26 1,29,421.39 1,28,736.86 1,28,046.62 1,27,350.64 1,26,648.85 1,25,941.22 1,25,227.69 1,24,508.21 1,23,782.73 1,23,051.22 1,22,313.60 1,21,569.84 1,20,819.88 1,20,063.67 1,19,301.16 1,18,532.30 1,17,757.02 1,16,975.29 1,16,187.04 1,15,392.23 1,14,590.79 1,13,782.67 1,12,967.82 1,12,146.18 1,11,317.69 1,10,482.29 1,09,639.94 1,08,790.56 1,07,934.11 1,07,070.52 1,06,199.73 1,05,321.69 1,04,436.33 1,03,543.59 1,02,643.41 1,01,735.73 1,00,820.49 99,897.62 98,967.06 98,028.74 173 $ 174 $ 175 $ 1,67,115.30 $ 1,66,744.89 $ 1,66,371.39 $ 1,763.04 1,763.04 1,763.04 $ $ $ 1,392.63 $ 1,389.54 $ 1,386.43 $ 177 $ 178 $ 179 $ 180 $ 181 $ 182 $ 183 $ 1,65,615.02 $ 1,65,232.11 $ 1,64,846.00 $ 1,64,456.68 $ 1,64,064.11 $ 1,63,668.27 $ 1,63,269.13 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,380.13 $ 1,376.93 $ 1,373.72 $ 1,370.47 $ 1,367.20 $ 1,363.90 $ 1,360.58 $ 185 $ 186 $ 187 $ 1,62,460.84 $ 1,62,051.64 $ 1,61,639.03 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,353.84 $ 1,350.43 $ 1,346.99 $ 189 $ 190 $ 191 $ 1,60,803.46 $ 1,60,380.45 $ 1,59,953.92 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,340.03 $ 1,336.50 $ 1,332.95 $ 193 $ 194 $ 195 $ 196 $ 1971 $ 198 $ 199 $ 1,59,090.15 $ 1,58,652.86$ 1,58,211.92 $ 1,57,767.31 $ 1,57,319.00 $ 1,56,866.95 $ 1,56,411.13 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,325.75 $ 1,322.11 $ 1,318.43 $ 1,314.73 $ 1,310.99 $ 1,307.22 $ 1,303.43 $ 2011 $ 202 $ 203 $ 1,55,488.07 $ 1,55,020.77 $ 1,54,549.56 $ 1,763.04 1,763.04 1,763.04 $ $ $ 1,295.73 $ 1,291.84 $ 1,287.91 $ 205 $ 206 $ 207 $ 1,53,595.35 $ 1,53,112.27$ 1,52,625.16 $ 1,763.04 1,763.04 1,763.04 $ $ $ 1,279.96 $ 1,275.94 $ 1,271.88 $ 209 $ 210 $ 211 $ 1,51,638.74 $ 1,51,139.36 $ 1,50,635.81 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,263.66 $ 1,259.49 $ 1,255.30 $ 213 $ 214 $ 215 $ 216 $ 217 $ 218 $ 219 $ 1,49,616.09 $ 1,49,099.85 $ 1,48,579.31 $ 1,48,054.43 $ 1,47,525.17 $ 1,46,991.51 $ 1,46,453.40 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,246.80 $ 1,242.50 $ 1,238.16 $ 1,233.79 $ 1,229.38 $ 1,224.93 $ 1,220.44 $ 221 $ 222 $ 223 $ 224 $ 225 $ 226 $ 227 $ 1,45,363.68 $ 1,44,812.01 $ 1,44,255.73 $ 1,43,694.82 $ 1,43,129.24 $ 1,42,558.94 $ 1,41,983.89 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,211.36 $ 1,206.77 $ 1,202.13 $ 1,197.46 $ 1,192.74 $ 1,187.99 $ 1,183.20 $ 229 $ 230 $ 231 $ 232 $ 233 $ 234 $ 1,40,819.37 $ 1,40,229.83 $ 1,39,635.37$ 1,39,035.95 $ 1,38,431.54 $ 1,37,822.10 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,173.49 $ 1,168.58 $ 1,163.63 $ 1,158.63 $ 1,153.60 $ 1,148.52 $ 236 $ 237 $ 238 $ 239 $ 240 $ 241 $ 242 $ 243 $ 244 $ 245 $ 246 $ 247 $ 248 $ 249 $ 250 $ 251 $ 252 $ 253 $ 254 $ 255 $ 256 $ 257 $ 258 $ 259 $ 260 $ 261 $ 262 $ 263 $ 264 $ 265 $ 1,36,587.93 $ 1,35,963.12 $ 1,35,333.11 $ 1,34,697.84 $ 1,34,057.28 $ 1,33,411.39 $ 1,32,760.11 $ 1,32,103.40 $ 1,31,441.22 $ 1,30,773.52 $ 1,30,100.26 $ 1,29,421.39 $ 1,28,736.86$ 1,28,046.62 $ 1,27,350.64 $ 1,26,648.85 $ 1,25,941.22$ 1,25,227.69 $ 1,24,508.21 $ 1,23,782.73 $ 1,23,051.22 $ 1,22,313.60 $ 1,21,569.84 $ 1,20,819.88 $ 1,20,063.67$ 1,19,301.16 $ 1,18,532.30 $ 1,17,757.02 $ 1,16,975.29 $ 1,16,187.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,138.23 $ 1,133.03 $ 1,127.78 $ 1,122.48 $ 1,117.14 $ 1,111.76 $ 1,106.33 $ 1,100.86 $ 1,095.34 $ 1,089.78 $ 1,084.17 $ 1,078.51 $ 1,072.81 $ 1,067.06 $ 1,061.26 $ 1,055.41 $ 1,049.51 $ 1,043.56 $ 1,037.57 $ 1,031.52 $ 1,025.43 $ 1,019.28 $ 1,013.08 $ 1,006.83 $ 1,000.53 $ 994.18 $ 987.77 $ 981.31 $ 968.23 $ 961.60 $ 267 $ 1,14,590.79$ 1,763.04 $ 948.19 $ 934.55 $ 269 $ 270 $ 271 $ 2721 $ 273 $ 274 $ 275 $ 1,12,967.82 $ 1,12,146.18 $ 1,11,317.69 $ 1,10,482.29 $ 1,09,639.94 $ 1,08,790.56 $ 1,07,934.11 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 920.69 $ 899.45 $ 892.25 $ 885.00 $ 877.68 $ 870.30 $ 277 $ 278 $ 279 $ 280 $ 281 $ 282 $ 283 $ 284 $ 285 $ 286 $ 287 $ 1,06,199.73 $ 1,05,321.69 $ 1,04,436.33 $ 1,03,543.59 $ 1,02,643.41 $ 1,01,735.73 $ 1,00,820.49 $ 99,897.62 $ 98,967.06 $ 98,028.74 $ 97,082.61 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 855.36 847.80 840.17 $ $ $ 824.73 $ 816.91 $ 801.07 $ 289 $ 95,166.62 $ 1,763.04 $ 961.97 $ 969.99 $ 978.07 $ 95,166.62 94,196.63 93,218.56 93,218.56 $ 1,763.04 $ 291 $ 292 $ 293 $ 91,237.90 $ 90,235.18 $ 89,224.09 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 784.97 $ 776.82 $ 768.60 $ 760.32 $ 751.96 $ 743.53 $ 735.04 $ 726.47 $ 295 $ 297 $ 298 $ 87,176.58 $ 86,140.01 $ 85,094.81 $ 1,763.04 1,763.04 1,763.04 $ $ $ 994.44 $ 1,002.73 $ 1,011.08 $ 1,019.51 $ 1,028.00 $ 1,036.57 $ 1,045.21 $ 1,053.92 $ 1,062.70 $ 1,071.56 $ 1,080.49 $ 1,089.49 $ 1,098.57 $ 1,107.72 $ 1,116.95 $ 1,126.26 $ 91,237.90 90,235.18 89,224.09 88,204.59 87,176.58 86,140.01 85,094.81 84,040.89 82,978.19 81,906.63 80,826.15 79,736.66 78,638.09 77,530.36 76,413.41 75,287.15 301 $ 709.12 $ 700.34 $ 691.48 $ 682.56 $ 673.55$ 82,978.19 $ 81,906.63 $ 80,826.15$ 79,736.66 $ 78,638.09 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 655.32 $ 646.09 $ 304 $ 305 $ 306 $ 307 $ 308 $ 309 $ 310 $ 311 $ 627.39 $ 617.93 $ 608.39 $ 313 $ 314 $ 315 $ 589.06 $ 579.28 $ 569.41 $ 559.47 $ 549.44 $ 317 $ 76,413.41 $ 75,287.15$ 74,151.50 $ 73,006.38 $ 71,851.73 $ 70,687.45 $ 69,513.47 $ 68,329.71 $ 67,136.08 $ 65,932.51 $ 64,718.91 $ 63,495.19 $ 62,261.28 $ 61,017.08 $ 59,762.51 $ 58,497.49 $ 57,221.93 $ 55,935.74 $ 54,638.83 $ 53,331.11 $ 52,012.49 $ 50,682.89 $ 49,342.21 $ 47,990.35 $ 46,627.23 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 529.13 $ 518.84 $ 508.48$ 498.02 $ 487.48 $ 476.85 $ 321 $ 322 $ 323 $ 324 $ 325 $ 326 $ 327 $ 329 $ 330 $ 331 $ 455.32 $ 444.43 $ 433.44 $ 422.36 $ 411.19 $ 399.92 $ 388.56 $ 377.11 $ 365.56 $ 353.91 $ 342.17 $ 43,866.81 $ 42,469.33 $ 41,060.20 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 333 $ 334 $ 335 $ 336 $ 3371 $ 338 $ 339 $ 1,145.11 $ 1,154.65 $ 1,164.28 $ 1,173.98 $ 1,183.76 $ 1,193.63 $ 1,203.57 $ 1,213.60 $ 1,223.72 $ 1,233.91 $ 1,244.20 $ 1,254.57 $ 1,265.02 $ 1,275.56 $ 1,286.19 $ 1,296.91 $ 1,307.72 $ 1,318.62 $ 1,329.60 $ 1,340.68 $ 1,351.86 $ 1,363.12 $ 1,374.48 $ 1,385.94 $ 1,397.48 $ 1,409.13 $ 1,420.87 $ 1,432.71 $ 1,444.65 $ 1,456.69 $ 1,468.83 $ 1,481.07 $ 1,493.41 $ 1,505.86 $ 1,518.41 $ 1,531.06 $ 1,543.82 $ 1,556.68 $ 1,569.66 $ 1,582.74 $ 1,595.93 $ 1,609.23 $ 1,622.64 $ 1,636.16 $ 1,649.79 $ 1,663.54 $ 1,677.40 $ 1,691.38 $ 1,705.48 $ 1,719.69 $ 1,734.02 $ 1,748.47 $ 2,00,900.00 73,006.38 71,851.73 70,687.45 69,513.47 68,329.71 67,136.08 65,932.51 64,718.91 63,495.19 62,261.28 61,017.08 59,762.51 58,497.49 57,221.93 55,935.74 54,638.83 53,331.11 52,012.49 50,682.89 49,342.21 47,990.35 46,627.23 45,252.75 43,866.81 42,469.33 41,060.20 39,639.33 38,206.61 36,761.96 35,305.27 33,836.44 32,355.37 30,861.95 29,356.09 27,837.69 26,306.63 24,762.81 23,206.12 21,636.47 20,053.73 18,457.80 16,848.57 15,225.94 13,589.78 11,939.99 10,276.45 8,599.04 6,907.66 5,202.18 3,482.49 1,748.47 -0.00 318.39 $ 306.35 $ 294.21 $ 281.97 $ 341 $ 342 $ 257.18 244.63 231.98 $ $ $ 344 $ 345 $ 346 $ 347 $ 348 $ 349 $ 350 $ 351 $ 352 $ 353 $ 354 $ 355 $ 356 $ 38,206.61 $ 36,761.96 $ 35,305.27 $ 33,836.44 $ 32,355.37 $ 30,861.95 $ 29,356.09 $ 27,837.69 $ 26,306.63 $ 24,762.81 $ 23,206.12$ 21,636.47 $ 20,053.73 $ 18,457.80 $ 16,848.57 $ 15,225.94 $ 13,589.78 $ 11,939.99$ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 1,763.04 $ 180.30 $ 167.11 $ 153.82 $ 140.40 $ 126.88 $ 99.50 $ 8,599.04 $ 1,763.04 $ 71.66 $ 6,907.66 $ 1,763.04 $ 57.56 $ 5,202.18 $ 1,763.04 $ 43.35 $ 29.02 $ 14.57 $ $ 6,34,694.86 $ 4,33,794.86 $ 360 $

Opening balance = previous year's closing balance
Closing balance = Opening balance+Loan-Principal repayment
PMT is calculated as per the above formula
Interest = 0.10 /12 x opening balance
Principal repayment = PMT - Interest

Total interest is $433794.86

Below is the chart for interest and principal repayment

2000 1500 1000 500 Interest Value Principal repeyment value