In the 'Loan calculations' Excel sheet, what is the total annual repayment for the 15-year loan detailed in that sheet? Please ensure you enter your answer as a negative number.
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PLEASE HELP. Your company is planning to borrow $1.75 million on a 5-year, 13%, annual payment, fully amortized term loan. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. What fraction of the payment made at the end of the second year will represent repayment of principal? Do not round intermediate calculations. Round your answer to two decimal places.
Akash M.
year 1 beginning amount 100.000.00 payment 23,739.64 interest 6,000.00 Repayment of principal 17,739.64 ending balance 82,260.36 2 beginning amount 82,260.36 payment 23,739.64 interest 4,935.62 Repayment of principal 18,804.02 Ending balance 63,456.34 3 beginning amount 63,456.34 payment 23,739.64 Interest 3,807.38 Repayment of principal 19,932.26 ending balance 43,524.08 4 beginning amount 43,524.08 payment 23,739.64 interest 2,611.44 Repayment of principal 21,128.20 ending balance 22,395.89 5 beginning amount 22,395.89 payment 23,739.64 interest 1,343.75 Repayment of principal 22,395.89 ending balance 0.00. Because this payment is fixed over time, enter this annual payment amount in the payment column of the following table for all three years. Each payment consiste of two parts-interest and Repayment of principal. You can calculate the interest in year 1 by multiplying the loan balance at the beginning of the year (PVAn) by the interest rate (I) the payment of principal is equal to the payment(PMT) mimus the interest charge for three years. The interest paid in year 1 is
Breanna O.
Consider a 15-year mortgage loan for $180,000 with a fixed annual interest rate of 7.50% and monthly payments (the same loan as above). Using MS Excel, construct the amortization table for this loan for its entire term of 15 years, year by year. Your table must have the following columns: 1 year, 2 beginning balance, 3 annual spending on mortgage, 4 principal reduction, 5 interest paid, 6 ending balance. Plot a chart of the evolution of the loan's remaining mortgage balance over its 15-year term. Plot a chart showing the evolution of the mortgage payment, interest paid, and principal reduction, year by year, over the loan's 15-year term.
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