Homework Answers
| Question 10 | |
| Loan = 130000 * 95% = 123500 | |
| Rate = 12% | |
| Term = 25 years | |
| Excel function for calculating cumulative principal paid | Principal paid during first year |
| =CUMPRINC(12%/12,25*12,123500,1,12,0) | -833.64 |
| Loan balance in year 2 = 123500 - 833.64 | |
| Loan balance in year 2 = 122666.36 | |
| Answer : None of the above |
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Create an amortization schedule using the following assumptions: Loan term: 25 year - fixed Purchase price:...
Amortization Schedule
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Using a spreadsheet application, create an amortization schedule for a 30 year, fixed rate (4.58%) $200k...
Using a spreadsheet application, create an amortization schedule for a 30 year, fixed rate (4.58%) $200k loan. Answer the following: what is the monthly payment? how much total interest will you pay? Print out enough of your spreadsheet to defend your work and answers.
Problem 5-50 Amortization Schedule (LG5-9) Create the amortization schedule for a loan of $5,700, paid monthly...
Problem 5-50 Amortization Schedule (LG5-9) Create the amortization schedule for a loan of $5,700, paid monthly over two years using an APR of 10 percent. Enter the data for the first three months. (Round your answers to 2 decimal places.) Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance rences
please answer correctly. Thanks Problem 5-50 Amortization Schedule (LG5-9) Create the amortization schedule for a loan...
please answer correctly. Thanks
Problem 5-50 Amortization Schedule (LG5-9) Create the amortization schedule for a loan of $5,300, paid monthly over two years using an APR of 8 percent. Enter the data for the first three months. (Round your answers to 2 decimal places.) Month Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance
Create a monthly loan amortization schedule for the following loan: The amount to borrow is: 15,000.00...
Create a monthly loan amortization schedule for the following loan: The amount to borrow is: 15,000.00 Term of the loan: 3 years Annual interest rate: 6% Loan payments are made monthly.
Loan Amortization Schedule You purchase a fully loaded Honda Accord with an MSRP of $32,000 for...
Loan Amortization Schedule You purchase a fully loaded Honda Accord with an MSRP of $32,000 for $27,000. You pay the 3% tax of $810 up front and put down $5,000. The dealer offers a simple interest installment loan with an annual rate of 5% for 3 years. The projected resale value of the car after 2 years is $17,000. Compute the loan value and monthly loan payments. (10 pts) Create a monthly amortization schedule over the entire loan period. (10...
The purpose of this question is to give you experience creating an amortization schedule for a...
The purpose of this question is to give you experience
creating an amortization schedule for a loan. As noted by
Investopedia: ‘An amortization schedule is a complete table of
periodic loan payments, showing the amount of principal and the
amount of interest that comprise each payment until the loan is
paid off at the end of its term. While each periodic payment is the
same amount early in the schedule, the majority of each payment is
interest; later in the...
Construct a Loan Amortization Schedule Question Consider the following monthly amortization schedule: Payment # Pay...
Construct a Loan Amortization Schedule Question Consider the following monthly amortization schedule: Payment # Payment Debt Payment Balance Interest 1 1, 167.34 259,873.20 540.54 626.80 2 1, 167.34 539.24 628.10 259, 245.10 3 1, 167.34 With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loan. Give your answer to the nearest hundredth percent. Do not include the % sign in your response. Provide your answer below
Construct a Loan Amortization Schedule...
Create the amortization schedule for a loan of $4,400, paid monthly over two years using an...
Create the amortization schedule for a loan of $4,400, paid monthly over two years using an APR of 10 percent. Enter the data for the first three months. ( Month Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance 1 2 3
14 Create the amortization schedule for a loan of $5,500, paid monthly over two years using...
14 Create the amortization schedule for a loan of $5,500, paid monthly over two years using an APR of 9 percent. Enter the data for the first three months. (Round your answers to 2 decimal places.) 10 points Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance 1 2 eBoo 3 Print References
Problem 5-50 Amortization Schedule (LG5-9) Create the amortization schedule for a loan of $5,700, paid monthly over two years using an APR of 10 percent. Enter the data for the first three months. (Round your answers to 2 decimal places.) Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance rences
please answer correctly. Thanks
Problem 5-50 Amortization Schedule (LG5-9) Create the amortization schedule for a loan of $5,300, paid monthly over two years using an APR of 8 percent. Enter the data for the first three months. (Round your answers to 2 decimal places.) Month Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance
The purpose of this question is to give you experience
creating an amortization schedule for a loan. As noted by
Investopedia: ‘An amortization schedule is a complete table of
periodic loan payments, showing the amount of principal and the
amount of interest that comprise each payment until the loan is
paid off at the end of its term. While each periodic payment is the
same amount early in the schedule, the majority of each payment is
interest; later in the...
Construct a Loan Amortization Schedule Question Consider the following monthly amortization schedule: Payment # Payment Debt Payment Balance Interest 1 1, 167.34 259,873.20 540.54 626.80 2 1, 167.34 539.24 628.10 259, 245.10 3 1, 167.34 With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loan. Give your answer to the nearest hundredth percent. Do not include the % sign in your response. Provide your answer below
Construct a Loan Amortization Schedule...
14 Create the amortization schedule for a loan of $5,500, paid monthly over two years using an APR of 9 percent. Enter the data for the first three months. (Round your answers to 2 decimal places.) 10 points Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance 1 2 eBoo 3 Print References
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