JenniferJohnson296_MT217-05_Unit_2_DS_

# JenniferJohnson296_MT217-05_Unit_2_DS_ - \$7,231.00 4...

This preview shows pages 1–3. Sign up to view the full content.

Unit 2 DS Template John borrows \$150,000. The terms of the loan are 7.5% over the next 5 yea Construct a loan amortization schedule that shows the 5 payments of John' A sample of a Loan Amortization Schedule can be found on page 53 in Tab Payment calculation in Excel - to complete this assignment we must first de PV = \$150,000.00 FV = -336215.16 n = 5 nper I = 0.08 rate PMT = 37,074.71 PMT This is then the ANNUAL payment, it is negati Year Beginning Amount Payment Interest 1 \$150,000.00 \$37,074.71 \$11,250.00 2 \$124,175.29 \$37,074.71 \$9,313.00 3 \$96,413.73 \$37,074.71

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: \$7,231.00 4 \$66,570.05 \$37,074.71 \$4,993.00 5 \$34,488.10 \$37,074.71 \$2,587.00 ars. It is important to note that he makes annual rather than monthly payments. 's loan. ble 2.4. (Section 2.18 focuses on amortized loans). Submit your assignment to the Dro etermine the payment, using Excel or a financial calculator tive because is is a cash outflow … it is a payment you make Applied to Mortage Ending Balance due \$25,824.71 \$124,175.29 \$27,761.56 \$96,413.73 \$29,843.68 \$66,570.05 \$32,081.95 \$34,488.10 \$34,488.10 \$0.00 opbox....
View Full Document

## This note was uploaded on 04/19/2011 for the course MT 217 taught by Professor Finance during the Spring '11 term at Kaplan University.

### Page1 / 3

JenniferJohnson296_MT217-05_Unit_2_DS_ - \$7,231.00 4...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online