Question

Loan (PV) Annual Rate Payments per Year Rate per Period (RATE) Years Payments (NPER) $375,000 6.50% 4 5...

Loan (PV) Annual Rate Payments per Year Rate per Period (RATE) Years Payments
(NPER)
$375,000 6.50% 4 5 30
Amortization Schedule
Year Period Remaining
Principal
Interest
Payment
Principal
Payment
Total Payment
1 1
1 2
1 3
1 4
2 5
2 6
2 7
2 8
3 9
3 10
3 11
3 12
4 13
4 14
4 15
4 16
5 17
5 18
5 19
5 20
Final Balance

Need help on finishing in the blank squares.

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Answer #1

6.50% Rate per period =-

Rate per period = 1.625%

The payment for each quarter is calculated as follows:-

Present value of the loan 1-(1 + interest rate) -nt interest rate

$375,000 PMT = 1-(1+0.0650 0.0650

Payment for each quarter = $22,112.24

-------------------------------------------------------------------------------------------------------------------

Total payment = $22,112.24

Interest payment of a period = 1.625% x Remaining principal of previous period

Principal payment = Total payment - interest payment

Remaining principal = Remaining principal of previous period - Principal payment of the period

Loan (PV) Annual Rate Payments per Year Rate per Period (RATE) % Years Payments
(NPER)
$375,000 6.50% 4 1.625 5 30
Year Period Remaining Interest Principal Total Payment
Principal Payment Payment
1 1 $358,981.51 $6,093.75 $16,018.49 $22,112.24
1 2 $342,702.72 $5,833.45 $16,278.79 $22,112.24
1 3 $326,159.40 $5,568.92 $16,543.32 $22,112.24
1 4 $309,347.25 $5,300.09 $16,812.15 $22,112.24
2 5 $292,261.90 $5,026.89 $17,085.35 $22,112.24
2 6 $274,898.92 $4,749.26 $17,362.98 $22,112.24
2 7 $257,253.79 $4,467.11 $17,645.13 $22,112.24
2 8 $239,321.92 $4,180.37 $17,931.87 $22,112.24
3 9 $221,098.66 $3,888.98 $18,223.26 $22,112.24
3 10 $202,579.27 $3,592.85 $18,519.39 $22,112.24
3 11 $183,758.95 $3,291.91 $18,820.33 $22,112.24
3 12 $164,632.79 $2,986.08 $19,126.16 $22,112.24
4 13 $145,195.83 $2,675.28 $19,436.96 $22,112.24
4 14 $125,443.02 $2,359.43 $19,752.81 $22,112.24
4 15 $105,369.23 $2,038.45 $20,073.79 $22,112.24
4 16 $84,969.24 $1,712.25 $20,399.99 $22,112.24
5 17 $64,237.75 $1,380.75 $20,731.49 $22,112.24
5 18 $43,169.38 $1,043.86 $21,068.38 $22,112.24
5 19 $21,758.64 $701.50 $21,410.74 $22,112.24
5 20 $0.00 $353.58 $21,758.66 $22,112.24
Final Balance $0
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