Problem 5-49 Amortization Schedule (LG9) Create the amortization schedule for a loan of $14,000, paid monthly...

Problem 5-49 Amortization Schedule (LG9)

Create the amortization schedule for a loan of $14,000, paid monthly over three years using a 9 percent APR. (Round your answers to 2 decimal places.)

Month	Beginning Balance	Total Payment	Interest Paid	Principal Paid	Ending Balance
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
39
30
31
32
33
34
35
36

Expert Solution


	Prinicipal amount of the loan		14,000	*Enter borrowed amount, NOT drawndown amount*
	Interest rate per annum		9.00%	*Enter interest rate per annum*
	Periods per annum		12	*Enter the frequency of payment (e.g 12 for monthly, 4 for quarterly)*
	Interest rate per period		0.75%	*Formula linked, no entry required*
	No. of years of the loan		3	*Enter the agreed upon tenor of loan (in years)*
	No. of instalments		36	*Formula linked, no entry required*


Month	Beginning balance	Total Payment	Interest paid	Principal paid	Ending balance
1	$14,000.00	$445.20	$105.00	$340.20	$13,659.80
2	$13,659.80	$445.20	$102.45	$342.75	$13,317.06
3	$13,317.06	$445.20	$99.88	$345.32	$12,971.74
4	$12,971.74	$445.20	$97.29	$347.91	$12,623.83
5	$12,623.83	$445.20	$94.68	$350.52	$12,273.31
6	$12,273.31	$445.20	$92.05	$353.15	$11,920.17
7	$11,920.17	$445.20	$89.40	$355.80	$11,564.37
8	$11,564.37	$445.20	$86.73	$358.46	$11,205.91
9	$11,205.91	$445.20	$84.04	$361.15	$10,844.76
10	$10,844.76	$445.20	$81.34	$363.86	$10,480.89
11	$10,480.89	$445.20	$78.61	$366.59	$10,114.30
12	$10,114.30	$445.20	$75.86	$369.34	$9,744.97
13	$9,744.97	$445.20	$73.09	$372.11	$9,372.86
14	$9,372.86	$445.20	$70.30	$374.90	$8,997.96
15	$8,997.96	$445.20	$67.48	$377.71	$8,620.25
16	$8,620.25	$445.20	$64.65	$380.54	$8,239.70
17	$8,239.70	$445.20	$61.80	$383.40	$7,856.30
18	$7,856.30	$445.20	$58.92	$386.27	$7,470.03
19	$7,470.03	$445.20	$56.03	$389.17	$7,080.86
20	$7,080.86	$445.20	$53.11	$392.09	$6,688.77
21	$6,688.77	$445.20	$50.17	$395.03	$6,293.74
22	$6,293.74	$445.20	$47.20	$397.99	$5,895.74
23	$5,895.74	$445.20	$44.22	$400.98	$5,494.77
24	$5,494.77	$445.20	$41.21	$403.99	$5,090.78
25	$5,090.78	$445.20	$38.18	$407.02	$4,683.76
26	$4,683.76	$445.20	$35.13	$410.07	$4,273.70
27	$4,273.70	$445.20	$32.05	$413.14	$3,860.55
28	$3,860.55	$445.20	$28.95	$416.24	$3,444.31
29	$3,444.31	$445.20	$25.83	$419.36	$3,024.95
30	$3,024.95	$445.20	$22.69	$422.51	$2,602.44
31	$2,602.44	$445.20	$19.52	$425.68	$2,176.76
32	$2,176.76	$445.20	$16.33	$428.87	$1,747.89
33	$1,747.89	$445.20	$13.11	$432.09	$1,315.80
34	$1,315.80	$445.20	$9.87	$435.33	$880.47
35	$880.47	$445.20	$6.60	$438.59	$441.88
36	$441.88	$445.20	$3.31	$441.88	-$0.00

The formula to calculate the 1st month total payment = =-PMT($E$5,$E$7,$E$2)
The formula to calculate the 1st month interest paid = =C11*$E$5

jeff jeffy answered 1 year ago

Problem 5-50 Amortization Schedule (LG9) Create the amortization schedule for a loan of $4,300, paid monthly...

Problem 5-50 Amortization Schedule (LG9) Create the amortization schedule for a loan of $4,300, paid monthly over two years using an 9 percent APR. (Round your answers to 2 decimal places.) Month Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance 1 2 3 4 5 6 7 ...

Finance- Amortization Schedule Create the amortization schedule for a loan of $5,000, paid monthly over two...

Finance- Amortization Schedule Create the amortization schedule for a loan of $5,000, paid monthly over two years using an 8 percent APR.

Create the amortization schedule for a loan of $11,000, paid monthly over three years using an...

Create the amortization schedule for a loan of $11,000, paid monthly over three years using an APR of 9 percent. Enter the data for the first three months. (Round your answers to 2 decimal places.)

Create the amortization schedule for a loan of $4,300, paid monthly over two years using an...

Create the amortization schedule for a loan of $4,300, paid monthly over two years using an 9 percent APR. (Round your answers to 2 decimal places.) Month Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

Create a loan amortization schedule in excell for a $27,000 car loan that will be repaid...

Create a loan amortization schedule in excell for a $27,000 car loan that will be repaid over 48 months at an annual interest rate of 6%. What is your monthly payment? _$_ What is the total dollar amount of payments made over the life of this loan? $____ What is the total dollar amount of interest paid over the life of this loan? $___________ How many months will it take to pay off the loan if you pay an extra...

Create an amortization schedule in Excel for the following loan: (Hint: Show Calculations) The loan term...

Create an amortization schedule in Excel for the following loan: (Hint: Show Calculations) The loan term is 15 years, the payments are made monthly, the loan amount is $300,000 and the interest rate is 4.00% APR. Also include the "totals" over the loan term for the "interest" payment, the "principal" payment, as well as "total" payments.

Create a loan amortization schedule in Excell for a $275,000 mortgage that will be repaid over...

Create a loan amortization schedule in Excell for a $275,000 mortgage that will be repaid over 20 years with monthlypayments. The annual interest rate is 5.5 %. What is your monthly payment? $ What is the total dollar amount of payments made over the life of this loan? $__ What is the total dollar amount of interest paid over the life of this loan? $_ How many months will it take to pay off the loan if you pay an extra $100...

Implement an amortization schedule of a loan of at least 5 years in excel

AMORTIZATION SCHEDULE a. Complete an amortization schedule for a $25,000 loan to be repaid in equal...

AMORTIZATION SCHEDULE a. Complete an amortization schedule for a $25,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 8% compounded annually. Round all answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ $ $ $ $ 2 3 b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all...

Create an Amortization Schedule for a $275,000 office building to be purchased with a 30-year loan...

Create an Amortization Schedule for a $275,000 office building to be purchased with a 30-year loan at an APR of 5% compounded monthly. Determine the monthly payments and how much interest is paid over the life of the loan. (format amortization schedule with the following columns: month, beginning principal, monthly payment, monthly interest, principal reduction, ending principal)

Question