In: Accounting
Year | Installment | Interest | Principal repaid | Closing balance |
48,000.00 | ||||
0 | 5,000.00 | 2,150.00 | 5,000.00 | 45,150.00 |
1 | 5,000.00 | 2,257.50 | 2,742.50 | 42,407.50 |
2 | 5,000.00 | 2,120.38 | 2,879.63 | 39,527.88 |
3 | 5,000.00 | 1,976.39 | 3,023.61 | 36,504.27 |
4 | 5,000.00 | 1,825.21 | 3,174.79 | 33,329.48 |
5 | 5,000.00 | 1,666.47 | 3,333.53 | 29,995.96 |
6 | 5,000.00 | 1,499.80 | 3,500.20 | 26,495.75 |
7 | 5,000.00 | 1,324.79 | 3,675.21 | 22,820.54 |
8 | 5,000.00 | 1,141.03 | 3,858.97 | 18,961.57 |
9 | 5,000.00 | 948.08 | 4,051.92 | 14,909.65 |
10 | 5,000.00 | 745.48 | 4,254.52 | 10,655.13 |
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