Problem 11.45

Problem 11.45 - AmountBorrowed LoanTerm(years) InterestRate...

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Amount Borrowed   $18,000.00  Loan Term (years) 4 Interest Rate 8.5% Monthly Payment   $443.67  Payment Number Monthly Payment Amount to Principal Amount to Interest 0 1  $443.67   $316.17   $127.50  2  $443.67   $318.41   $125.26  3  $443.67   $320.66   $123.01  4  $443.67   $322.94   $120.73  5  $443.67   $325.22   $118.45  6  $443.67   $327.53   $116.14  7  $443.67   $329.85   $113.82  8  $443.67   $332.18   $111.49  9  $443.67   $334.54   $109.13  10  $443.67   $336.91   $106.76  11  $443.67   $339.29   $104.38  12  $443.67   $341.70   $101.97  13  $443.67   $344.12   $99.55  14  $443.67   $346.55   $97.12  15  $443.67   $349.01   $94.66  16  $443.67   $351.48   $92.19  17  $443.67   $353.97   $89.70  18  $443.67   $356.48   $87.19  19  $443.67   $359.00   $84.67  20  $443.67   $361.55   $82.12  21  $443.67   $364.11   $79.56  22  $443.67   $366.69   $76.98  23  $443.67   $369.28   $74.39  24  $443.67   $371.90   $71.77  25  $443.67   $374.53   $69.14  26  $443.67   $377.19   $66.48  27  $443.67   $379.86   $63.81  28  $443.67   $382.55   $61.12  29  $443.67   $385.26   $58.41  30  $443.67   $387.99   $55.68  31  $443.67   $390.73   $52.93  32  $443.67   $393.50   $50.17  33  $443.67   $396.29   $47.38  34  $443.67   $399.10   $44.57  35  $443.67   $401.92   $41.75  36  $443.67   $404.77   $38.90  37  $443.67   $407.64   $36.03  38  $443.67   $410.53   $33.14  39  $443.67   $413.43   $30.24 
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40  $443.67   $416.36   $27.31  41  $443.67   $419.31   $24.36  42  $443.67   $422.28   $21.39  43  $443.67   $425.27   $18.40  44  $443.67   $428.28   $15.38  45  $443.67   $431.32   $12.35  46  $443.67   $434.37   $9.30  47  $443.67   $437.45   $6.22  48  $443.67   $440.55   $3.12 
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Cumulative Interest Current Balance  $18,000.00   $127.50   $17,683.83   $252.76   $17,365.42   $375.77   $17,044.76   $496.50   $16,721.82   $614.95   $16,396.60   $731.09   $16,069.07   $844.91   $15,739.22   $956.40   $15,407.04   $1,065.53   $15,072.50   $1,172.29   $14,735.60   $1,276.67   $14,396.31   $1,378.64   $14,054.61   $1,478.20   $13,710.50   $1,575.31   $13,363.94   $1,669.98   $13,014.93   $1,762.16   $12,663.45   $1,851.86   $12,309.48   $1,939.06   $11,953.01   $2,023.72   $11,594.00   $2,105.85   $11,232.46   $2,185.41   $10,868.35   $2,262.39   $10,501.67   $2,336.78   $10,132.38   $2,408.55   $9,760.49   $2,477.69   $9,385.95   $2,544.17   $9,008.77   $2,607.99   $8,628.91   $2,669.11   $8,246.36   $2,727.52   $7,861.10   $2,783.20   $7,473.12   $2,836.14   $7,082.38   $2,886.30   $6,688.88   $2,933.68   $6,292.59   $2,978.25 
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This note was uploaded on 09/18/2011 for the course ENGR 160 taught by Professor Sengupta during the Fall '07 term at Iowa State.

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Problem 11.45 - AmountBorrowed LoanTerm(years) InterestRate...

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