car assignment - Ans a: Monthly Income Car payments...

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Ans a: Monthly Income 4000 Car payments 400 Mortgage paymen 1120 As et Price Loan amount Interest rate Term in month Car 45000.00 40500 7% 60 Home 280000.00 271600 4.88% 360 Amortization for Car Loan Af ordable Should be Amortization for Home Loan Af ordable Should be PMT 400.00 $801.95 PMT $1,120.00 $1,438.15 Month Opening balance Interest PMT Principal Closing Balance Month Opening balance Interest PMT Principal Closing Balance 1 $40,500 236.25 $400.00 $163.75 $40,336.25 1 $271,600.00 $1,104.49 $1,120.00 $15.51 $271,584.49 2 $40,336.25 235.29 $400.00 $164.71 $40,171.54 2 $271,584.49 $1,104.43 $1,120.00 $15.57 $271,568.91 3 $40,171.54 234.33 $400.00 $165.67 $40,005.88 3 $271,568.91 $1,104.36 $1,120.00 $15.64 $271,553.28 4 $40,005.88 233.37 $400.00 $166.63 $39,839.25 4 $271,553.28 $1,104.30 $1,120.00 $15.70 $271,537.57 5 $39,839.25 232.40 $400.00 $167.60 $39,671.64 5 $271,537.57 $1,104.23 $1,120.00 $15.77 $271,521.81 6 $39,671.64 231.42 $400.00 $168.58 $39,503.06 6 $271,521.81 $1,104.17 $1,120.00 $15.83 $271,505.98 7 $39,503.06 230.43 $400.00 $169.57 $39,333.49 7 $271,505.98 $1,104.11 $1,120.00 $15.89 $271,490.09 8 $39,333.49 229.45 $400.00 $170.55 $39,162.94 8 $271,490.09 $1,104.04 $1,120.00 $15.96 $271,474.13 9 $39,162.94 228.45 $400.00 $171.55 $38,991.39 9 $271,474.13 $1,103.98 $1,120.00 $16.02 $271,458.10 10 $38,991.39 227.45 $400.00 $172.55 $38,818.84 10 $271,458.10 $1,103.91 $1,120.00 $16.09 $271,442.02 11 $38,818.84 226.44 $400.00 $173.56 $38,645.28 11 $271,442.02 $1,103.85 $1,120.00 $16.15 $271,425.86 12 $38,645.28 225.43 $400.00 $174.57 $38,470.71 12 $271,425.86 $1,103.78 $1,120.00 $16.22 $271,409.64 13 $38,470.71 224.41 $400.00 $175.59 $38,295.13 13 $271,409.64 $1,103.71 $1,120.00 $16.29 $271,393.36 14 $38,295.13 223.39 $400.00 $176.61 $38,118.51 14 $271,393.36 $1,103.65 $1,120.00 $16.35 $271,377.01 15 $38,118.51 222.36 $400.00 $177.64 $37,940.87 15 $271,377.01 $1,103.58 $1,120.00 $16.42 $271,360.59 16 $37,940.87 221.32 $400.00 $178.68 $37,762.19 16 $271,360.59 $1,103.51 $1,120.00 $16.49 $271,344.10 17 $37,762.19 220.28 $400.00 $179.72 $37,582.47 17 $271,344.10 $1,103.45 $1,120.00 $16.55 $271,327.55 18 $37,582.47 219.23 $400.00 $180.77 $37,401.70 18 $271,327.55 $1,103.38 $1,120.00 $16.62 $271,310.93 19 $37,401.70 218.18 $400.00 $181.82 $37,219.88 19 $271,310.93 $1,103.31 $1,120.00 $16.69 $271,294.24 20 $37,219.88 217.12 $400.00 $182.88 $37,037.00 20 $271,294.24 $1,103.25 $1,120.00 $16.75 $271,277.49 21 $37,037.00 216.05 $400.00 $183.95 $36,853.05 21 $271,277.49 $1,103.18 $1,120.00 $16.82 $271,260.67 22 $36,853.05 214.98 $400.00 $185.02 $36,668.02 22 $271,260.67 $1,103.11 $1,120.00 $16.89 $271,243.77 23 $36,668.02 213.90 $400.00 $186.10 $36,481.92 23 $271,243.77 $1,103.04 $1,120.00 $16.96 $271,226.81 24 $36,481.92 212.81 $400.00 $187.19 $36,294.73 24 $271,226.81 $1,102.97 $1,120.00 $17.03 $271,209.79 25 $36,294.73 211.72 $400.00 $188.28 $36,106.45 25 $271,209.79 $1,102.90 $1,120.00 $17.10 $271,192.69 26 $36,106.45 210.62 $400.00 $189.38 $35,917.07
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This note was uploaded on 01/05/2012 for the course 101 melissa jo taught by Professor Acc101 during the Spring '11 term at Aarhus Universitet.

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car assignment - Ans a: Monthly Income Car payments...

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