In: Finance
12. What is the payment in month 13 on a CAM loan for $250,000 with a maturity of 15 years at 5.85%? (Fill in Excel) | ||||
Loan Amount | ||||
Years | ||||
Periods Per Year | ||||
Payment Month at Issue Here | ||||
Interest Rate | ||||
Constant Amortization Amount | ||||
What is the interest paid in month 14 on the loan in the previous question? | ||||
Loan Amount | ||||
Years | ||||
Periods Per Year | ||||
Payment Month at Issue Here | ||||
Interest Rate | ||||
Constant Amortization Amount | ||||
What is the balance at EOM 34 of the loan in the previous question? | ||||
Loan Amount | ||||
Years | ||||
Periods Per Year | ||||
Payment Month at Issue Here | ||||
Interest Rate | ||||
Constant Amortization Amount |
Payment made in month 13
Loan Amount | 231944.44 |
Years | 15 |
Periods Per Year | 12 |
Payment Month at Issue Here | 13 |
Interest Rate | 5.85 |
Constant Amortization Amount | 1388.88 |
Payment Made | 2526.39 |
Interest paid in the month 14
Period (month) | O/s | Interest | Amort | PMT |
14 | 230555.6 | 1130.729 | 1388.88 | 2519.618 |
Balance at EOM 34
Period (month) | O/s | Interest | Amort | PMT |
34 | 202777.77 | 995.31 | 1388.89 | 2384.20 |
The whole Excel sheet is given below for your reference:
Amort= Loan amount / Total periods
Interest = outstanding amount * rate/12
Payment = Amort + interest
Outstanding Amount = Opening Balance - amort
Period | O/s | Interst | Amort | PMT |
beginning | 250000 | 0 | 0 | 0 |
1 | $248,611.11 | 1218.75 | 1388.889 | 2607.639 |
2 | $247,222.22 | 1211.979 | 1388.889 | 2600.868 |
3 | $245,833.33 | 1205.208 | 1388.889 | 2594.097 |
4 | $244,444.44 | 1198.438 | 1388.889 | 2587.326 |
5 | $243,055.56 | 1191.667 | 1388.889 | 2580.556 |
6 | $241,666.67 | 1184.896 | 1388.889 | 2573.785 |
7 | $240,277.78 | 1178.125 | 1388.889 | 2567.014 |
8 | $238,888.89 | 1171.354 | 1388.889 | 2560.243 |
9 | $237,500.00 | 1164.583 | 1388.889 | 2553.472 |
10 | $236,111.11 | 1157.813 | 1388.889 | 2546.701 |
11 | $234,722.22 | 1151.042 | 1388.889 | 2539.931 |
12 | $233,333.33 | 1144.271 | 1388.889 | 2533.16 |
13 | $231,944.44 | 1137.5 | 1388.889 | 2526.389 |
14 | $230,555.56 | 1130.729 | 1388.889 | 2519.618 |
15 | $229,166.67 | 1123.958 | 1388.889 | 2512.847 |
16 | $227,777.78 | 1117.188 | 1388.889 | 2506.076 |
17 | $226,388.89 | 1110.417 | 1388.889 | 2499.306 |
18 | $225,000.00 | 1103.646 | 1388.889 | 2492.535 |
19 | $223,611.11 | 1096.875 | 1388.889 | 2485.764 |
20 | $222,222.22 | 1090.104 | 1388.889 | 2478.993 |
21 | $220,833.33 | 1083.333 | 1388.889 | 2472.222 |
22 | $219,444.44 | 1076.563 | 1388.889 | 2465.451 |
23 | $218,055.56 | 1069.792 | 1388.889 | 2458.681 |
24 | $216,666.67 | 1063.021 | 1388.889 | 2451.91 |
25 | $215,277.78 | 1056.25 | 1388.889 | 2445.139 |
26 | $213,888.89 | 1049.479 | 1388.889 | 2438.368 |
27 | $212,500.00 | 1042.708 | 1388.889 | 2431.597 |
28 | $211,111.11 | 1035.938 | 1388.889 | 2424.826 |
29 | $209,722.22 | 1029.167 | 1388.889 | 2418.056 |
30 | $208,333.33 | 1022.396 | 1388.889 | 2411.285 |
31 | $206,944.44 | 1015.625 | 1388.889 | 2404.514 |
32 | $205,555.56 | 1008.854 | 1388.889 | 2397.743 |
33 | $204,166.67 | 1002.083 | 1388.889 | 2390.972 |
34 | $202,777.78 | 995.3125 | 1388.889 | 2384.201 |
35 | $201,388.89 | 988.5417 | 1388.889 | 2377.431 |
36 | $200,000.00 | 981.7708 | 1388.889 | 2370.66 |