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You are planning on taking a loan for $ 74 ,000. You will repay the loan...

You are planning on taking a loan for $ 74 ,000. You will repay the loan in annual payments over the next 8 years and the loan has a stated interest rate of 4 %. For the very last payment on your loan, how much of this is repayment of principal? For example, if the loan payment is $400 of which $30 is interest and $370 is principal, your answer is $370. Enter your answer to the nearest $.01. Do not use $ or , signs in your answer. Enter your answer as a positive number.

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Function Arguments PPMT Rate 4% 0.04 Per 8 Nper 8 Pv -74000 个 = -74000 Fv = 10568.32651 Returns the payment on the principal for a given investment based on periodic, constant payments and a constant interest rate. Fv is the future value, or cash balance you want to attain after the last payment is made Formula result = S 10,568.33 OK CancelHence, Principal in very last payment is $10,568.33

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