An amount of $200,000 is borrowed for 5 years at a rate of 12%. Make an...

An amount of $200,000 is borrowed for 5 years at a rate of 12%. Make an amortization schedule showing the quarterly payment, the quarterly interest on the outstanding balance, the portion of the payment going toward reducing the debt, and the balance.

Expert Solution

formula for B8: =IF(A8<=$C$3*$C$4, PMT($C$2/$C$4, $C$3*$C$4, $C$5), "")

drag down for other rows for column B

formula for C8: =IF(A8<=$C$3*$C$4, IPMT($C$2/$C$4, A8, $C$3*$C$4, $C$5), "")

drag down for other rows for column C

formula for D8: =IF(A8<=$C$3*$C$4,PPMT($C$2/$C$4, A8, $C$3*$C$4, $C$5), "")

drag down for other rows for column D

E8: =C5+D8

E9: =IF(A9<=$C$3*$C$4, E8+D9, "")

drag E9 down for other values of column E

Colby Messinger answered 2 years ago

An amount of $200,000 is borrowed for 5 years at a rate of 12%. Make an...

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An amount of $200,000 is borrowed for 5 years at a rate of 12%. Make an...

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