In: Finance
EMI = Loan amount / PVAF (r%, n)
where r is int rate per month and n is no. of months
= $ 200,000 / PVAF (0.4167%, 360)
= $ 200,000 / 186.2816
= 1073.64
Loan Amortization:
I have broken the excel sheet into 3 pictures as I couldn't able to take one pic
Thus after 96 months ( 8 years) closing balance in Loan amortization is $ 171,706