12. What is the payment in month 13 on a CAM loan for $250,000 with a...

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

Expert Solution

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

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