TB MC Qu. 09-09 Lou Lewis borrows... Lou Lewis borrows $22,000 to be repaid over 11 years at 12 percent. Repayment of p...

Question

Question

TB MC Qu. 09-09 Lou Lewis borrows... Lou Lewis borrows $22,000 to be repaid over 11 years at 12 percent. Repayment of princip

Answer 1

Answer #1

Repayment principal in the first year is calculated using the PPMT function:-

=PPMT(rate,per,nper,pv,fv,0)

=PPMT(12%,1,11,22000,,0)

=1065

Answer 2

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