Question

In: Finance

PMT = (PV)i 1 − (1 + i)−n .A loan of $250,000 is amortized over 30...

PMT =

(PV)i

1 − (1 + i)⁻ⁿ

.A loan of $250,000 is amortized over 30 years with payments at the end of each month and an interest rate of 6.3%, compounded monthly.

Use Excel to create an amortization table showing, for each of the 360 payments, the beginning balance, the interest owed, the principal, the payment amount, and the ending balance.

a) Find the amount of each payment. $
b) Find the total amount of interest paid during the first 15 payments. $

Suppose that payment number 7 is skipped and the interest owed for month 7 is added to the balance. Payments then resume as usual for the remainder of the 30 years.
c) Find the balance owing at the end of month 7. $
d) Find the balance remaining after the 360th payment. $

Expert Solution

Payment Amount is 1547.53 each period

Ans a) given schedule

Ans b) 19,555.

Remaining questions belongs to another set of questions so i would request to repost it again with remaining questions

Interest Principal EndingBalance

1313 235 249765

1311 236 249529

1310 237 249291

1309 239 249053

1308 240 248813

1306 241 248572

1305 242 248329

1304 244 248086

1302 245 247841

1301 246 247594

1300 248 247347

1299 249 247098

1297 250 246848

1296 251 246596

1295 253 246344

1293 254 246089

1292 255 245834

1291 257 245577

1289 258 245319

1288 260 245059

1287 261 244799

1285 262 244536

1284 264 244273

1282 265 244008

1281 266 243741

1280 268 243474

1278 269 243204

1277 271 242934

1275 272 242662

1274 273 242388

1273 275 242113

1271 276 241837

1270 278 241559

1268 279 241280

1267 281 240999

1265 282 240717

1264 284 240433

1262 285 240148

1261 287 239862

1259 288 239573

1258 290 239284

1256 291 238993

1255 293 238700

1253 294 238406

1252 296 238110

1250 297 237812

1249 299 237514

1247 300 237213

1245 302 236911

1244 304 236607

1242 305 236302

1241 307 235995

1239 308 235687

1237 310 235377

1236 312 235065

1234 313 234752

1232 315 234437

1231 317 234120

1229 318 233802

1227 320 233482

1226 322 233160

1224 323 232837

1222 325 232512

1221 327 232185

1219 328 231857

1217 330 231526

1216 332 231194

1214 334 230861

1212 335 230525

1210 337 230188

1208 339 229849

1207 341 229509

1205 343 229166

1203 344 228822

1201 346 228476

1199 348 228128

1198 350 227778

1196 352 227426

1194 353 227073

1192 355 226718

1190 357 226360

1188 359 226001

1187 361 225640

1185 363 225278

1183 365 224913

1181 367 224546

1179 369 224178

1177 370 223807

1175 372 223435

1173 374 223060

1171 376 222684

1169 378 222306

1167 380 221925

1165 382 221543

1163 384 221159

1161 386 220772

1159 388 220384

1157 390 219994

1155 392 219601

1153 395 219207

1151 397 218810

1149 399 218411

1147 401 218010

1145 403 217608

1142 405 217203

1140 407 216795

1138 409 216386

1136 411 215975

1134 414 215561

1132 416 215146

1130 418 214728

1127 420 214307

1125 422 213885

1123 425 213461

1121 427 213034

1118 429 212605

1116 431 212174

1114 434 211740

1112 436 211304

1109 438 210866

1107 440 210426

1105 443 209983

1102 445 209538

1100 447 209091

1098 450 208641

1095 452 208189

1093 454 207735

1091 457 207278

1088 459 206818

1086 462 206357

1083 464 205893

1081 466 205426

1078 469 204957

1076 471 204486

1074 474 204012

1071 476 203536

1069 479 203057

1066 481 202575

1064 484 202092

1061 486 201605

1058 489 201116

1056 492 200625

1053 494 200130

1051 497 199634

1048 499 199134

1045 502 198632

1043 505 198128

1040 507 197620

1038 510 197110

1035 513 196598

1032 515 196083

1029 518 195565

1027 521 195044

1024 523 194520

1021 526 193994

1018 529 193465

1016 532 192934

1013 535 192399

1010 537 191862

1007 540 191321

1004 543 190778

1002 546 190233

999 549 189684

996 552 189132

993 554 188578

990 557 188020

987 560 187460

984 563 186897

981 566 186331

978 569 185761

975 572 185189

972 575 184614

969 578 184036

966 581 183455

963 584 182870

960 587 182283

957 590 181693

954 594 181099

951 597 180502

948 600 179903

944 603 179300

941 606 178693

938 609 178084

935 612 177472

932 616 176856

928 619 176237

925 622 175615

922 625 174989

919 629 174361

915 632 173729

912 635 173093

909 639 172455

905 642 171813

902 645 171167

899 649 170518

895 652 169866

892 656 169210

888 659 168551

885 663 167889

881 666 167223

878 670 166553

874 673 165880

871 677 165204

867 680 164524

864 684 163840

860 687 163153

857 691 162462

853 695 161767

849 698 161069

846 702 160367

842 706 159662

838 709 158953

835 713 158240

831 717 157523

827 720 156803

823 724 156078

819 728 155350

816 732 154618

812 736 153883

808 740 153143

804 743 152400

800 747 151652

796 751 150901

792 755 150146

788 759 149387

784 763 148624

780 767 147857

776 771 147085

772 775 146310

768 779 145531

764 783 144747

760 788 143960

756 792 143168

752 796 142372

747 800 141572

743 804 140768

739 808 139960

735 813 139147

731 817 138330

726 821 137509

722 826 136684

718 830 135854

713 834 135020

709 839 134181

704 843 133338

700 847 132491

696 852 131639

691 856 130782

687 861 129922

682 865 129056

678 870 128186

673 874 127312

668 879 126433

664 884 125549

659 888 124661

654 893 123768

650 898 122870

645 902 121968

640 907 121061

636 912 120149

631 917 119232

626 921 118311

621 926 117385

616 931 116453

611 936 115517

606 941 114576

602 946 113631

597 951 112680

592 956 111724

587 961 110763

582 966 109797

576 971 108826

571 976 107850

566 981 106869

561 986 105882

556 992 104891

551 997 103894

545 1002 102892

540 1007 101885

535 1013 100872

530 1018 99854

524 1023 98831

519 1029 97803

513 1034 96769

508 1039 95729

503 1045 94684

497 1050 93634

492 1056 92578

486 1061 91517

480 1067 90450

475 1073 89377

469 1078 88299

464 1084 87215

458 1090 86126

452 1095 85030

446 1101 83929

441 1107 82823

435 1113 81710

429 1118 80591

423 1124 79467

417 1130 78337

411 1136 77201

405 1142 76059

399 1148 74910

393 1154 73756

387 1160 72596

381 1166 71430

375 1172 70257

369 1179 69079

363 1185 67894

356 1191 66703

350 1197 65506

344 1204 64302

338 1210 63092

331 1216 61876

325 1223 60654

318 1229 59425

312 1235 58189

305 1242 56947

299 1248 55699

292 1255 54444

286 1262 53182

279 1268 51914

273 1275 50639

266 1282 49358

259 1288 48069

252 1295 46774

246 1302 45472

239 1309 44164

232 1316 42848

225 1322 41526

218 1329 40196

211 1336 38860

204 1343 37516

197 1350 36166

190 1358 34808

183 1365 33444

176 1372 32072

168 1379 30693

161 1386 29306

154 1394 27913

147 1401 26512

139 1408 25104

132 1416 23688

124 1423 22265

117 1431 20834

109 1438 19396

102 1446 17951

94 1453 16498

87 1461 15037

79 1468 13568

71 1476 12092

63 1484 10608

56 1492 9116

48 1500 7617

40 1507 6109

32 1515 4594

24 1523 3071

16 1531 1539

8 1531 -

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Question

PMT = (PV)i 1 − (1 + i)−n .A loan of $250,000 is amortized over 30...

Solutions

Expert Solution

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