This worksheet requires you to use the IPMT and PPMT funtions to calculate the loan balance, and the principle/interest portion of a loan payment at any given point in time. Be sure to use cell references. Initial Balance $10,000.00 Annual Interest Rate 10% Years 10 Annual Payemnt $1,627.45 Summary loan data for year 4 Balance at start of year Balance at end of year Interest paid during the year Principle paid during the year
This worksheet requires you to use the IPMT and PPMT funtions to calculate the loan balance, and the principle/interest portion of a loan payment at any given point in time. Be sure to use cell references. Initial Balance $10,000.00 Annual Interest Rate 10% Years 10 Annual Payemnt $1,627.45 Summary loan data for year 4 Balance at start of year Balance at end of year Interest paid during the year Principle paid during the year
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 5FPE
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Amortization Table - Breaking Down Your Payment - No video | ||||||
This worksheet requires you to use the IPMT and PPMT funtions to calculate the loan balance, and the principle/interest portion of a loan payment at any given point in time. Be sure to use cell references. | ||||||
Initial Balance | $10,000.00 | |||||
Annual Interest Rate | 10% | |||||
Years | 10 | |||||
Annual Payemnt | $1,627.45 | |||||
Summary loan data for year | 4 | |||||
Balance at start of year | ||||||
Balance at end of year | ||||||
Interest paid during the year | ||||||
Principle paid during the year | ||||||
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