Assignment_9_Amortization_Table

# Assignment_9_Amortization_Table - Notes Payable Excel...

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Notes Payable Excel version of the example in the lecture notes. **** * **** Beginning *** ** Decrease Ending Time Carrying Note Interest in Notes Carrying Months Amount Payment Expense Payable Amount * As interest decreases, more of the payment goes to paying 1 18,000.00 431.03 105.00 326.03 17,673.97 down the principle. 2 17,673.97 431.03 103.10 327.93 17,346.03 ** The decrease in the carrying amount decrease the amount 3 17,346.03 431.03 101.19 329.85 17,016.19 interest charged. 4 17,016.19 431.03 99.26 331.77 16,684.41 *** Car loan payment amount, always the same. 5 16,684.41 431.03 97.33 333.71 16,350.71 **** The ending carrying amount for one period is the same as the 6 16,350.71 431.03 95.38 335.65 16,015.05 beginning carrying amount for the next period. 7 16,015.05 431.03 93.42 337.61 15,677.44 8 15,677.44 431.03 91.45 339.58 15,337.86 9 15,337.86 431.03 89.47 341.56 14,996.30 10 14,996.30 431.03 87.48 343.55 14,652.75 11 14,652.75 431.03 85.47 345.56 14,307.19 12 14,307.19 431.03 83.46 347.57 13,959.62 13 13,959.62 431.03 81.43 349.60 13,610.01 14 13,610.01 431.03 79.39 351.64 13,258.37 15 13,258.37 431.03 77.34 353.69 12,904.68 16 12,904.68 431.03 75.28 355.76 12,548.93 17 12,548.93 431.03 73.20 357.83 12,191.10 18 12,191.10 431.03 71.11 359.92 11,831.18 19 11,831.18 431.03 69.02 362.02 11,469.16
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