Distinguished_Scholar_Unit_2_Charity_Barnes

Distinguished_Scholar_Unit_2_Charity_Barnes - Nper is the...

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Unit 2 Distingueshed Scholar Project Amortization Schedule Year Rate Beginning Amount Payment Interest 1.00 7.5% $150,000.00 $37,074.71 $11,250.00 2.00 7.5% $124,175.30 $37,074.71 $9,313.15 3.00 7.5% $96,413.74 $37,074.71 $7,231.03 4.00 7.5% $66,570.06 $37,074.71 $4,992.75 5.00 7.5% $34,488.10 $37,074.71 $2,586.61
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Repayment of Principal Ending Balance $25,824.70 $124,175.30 $27,761.56 $96,413.74 $29,843.66 $66,570.06 $32,081.96 $34,488.10 $34,488.10 $0.00
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Payment Amount on a Loan Blue text cells are the variables. Change the variable Fixed Rate Payment PMT(rate,nper,pv,fv,type)* Rate (I) 7.50% This calculates the Payment for the fixed part o Periods (n) Years 5 Present Value (loan Amount) $150,000.00 PV must be negative for the Excel formula to w Excel Formula for Payment ($37,074.71) Plug the payment into the amorization schedul $37,074.71 PMT(rate,nper,pv,fv,type) Rate is the interest rate for the loan.
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Unformatted text preview: Nper is the total number of payments for the loan. Pv is the present value, or the total amount that a series of future payments is worth now; also known a Fv is the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted in the problem, it is assumed to be 0 (zero), that is, the future value of a loan is 0. Type is the number 0 (zero) or 1 and indicates when payments are due. Set type equal to 0 (zero) if payments are due at the end of the period. (In home loans, payment is due at Set type equal to 1 if payments are due at the beginning of the period. (Annuity Due problems) to see how the payment changes. of the ammortization schedule. work properly. le and finish the schedule. as the principal. t the end of the first period.)...
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This note was uploaded on 05/15/2011 for the course ECONOMICS 204 taught by Professor Perti during the Spring '11 term at Kaplan University.

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Distinguished_Scholar_Unit_2_Charity_Barnes - Nper is the...

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