JenniferJohnson296_MT217-05_Unit_2_DS_

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

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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
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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....
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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.

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

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