Question

Share Comm Refresh che thopertie m 2. Stots Geography Sort Ungroup One & Carthen Advanced What Ana Forecant Sheet PMTC14/12,520,CE,CE ILGI s below to complete the one and an an k L M N O o $25,500.00 Loan Amount Term (months Interest Rate 5.25% | LH HIHIHII Total Amount Paid Total interest Paid SUM Check Calculation $59.0 Period Payment Interest Principle Blanc Agents OD Carloan Calculate, in cell D20, the Interest amount for period 1 by multiplying the balance in periodo cell F19) by the loan interest rate (cell C13) divided by 12. Dividing the Interest rate by 12 results in the monthly interest rate. This formals reusable. The Interest for a given periodis always the monthly interest rate times the balance from the previous period. 5 points 1 2 NUMI 9 91.06 $111.7 1 .06 $0.00 $591.06 ANUMI $591.06 SOLO $591.06 WNUMI 5591.06 AVALUE! $591.06 VALUE! $991.06 VALUE $591.050 .00 $591.06 $29.11.14 $591.06 -$29,113 14 US Customers US Customers copied US Customers Sorted Cartoon Charts 1 Type here to search Otell LX

Answer 1

Period payment interest principal Balance 0 25540 1 591.06 111.7375 479.3225 25060.68 2 591.06 109.6405 481.4195 24579.26 3 591.06 107.5343 483.5257 24095.73 4 591.06 105 4188 485.6412 23610.09 5 591.06 103.2941 487.7659 23122.33 6 591.06 101.1602 489.8998 22632.43 7 591.06 99.01686 492.0431 22140.38 8 591.06 96.86417 494.1958 21646.19 9 591.06 94.70207 496.3579 21149.83 10 591.06 92.5305 498.5295 20651.3 11 591.06 90.34943 500.7106 20150.59 12 591.06 88.15882 502.9012 19647.69 13 591.06 85.95863 505.1014 19142.59 14 591.06 83.74881 507.3112 18635.27 15 591.06 81.52933 509.5307 18125.74 16 591.06 79.30013 511.7599 17613.98 17 591.06 77.06118 513.9988 17099.99 18 591.06 74.81244 516.2476 16583.74 19 591.06 72.55385 518.5061 16065.23 20 591.06 70.28539 520.7746 15544.46 21 591.06 68.007 523.053 15021.4 22 591.06 65.71864 525.3414 14496.06 23 591.06 63.42027 527.6397 13968.42 24 591.06 61.11185 529.9481 13438.47 25 591.06 58.79333 532.2667 12906.21 26 591.06 56.46466 534.5953 12371.61 27 591.06 54.12581 536.9342 11834.68 28 591.06 51.77672 539.2833 11295.4 29 591.06 49.41735 541.6426 10753.75 30 591.06 47.04767 544.0123 10209.74 31 591.06 44.66761 546.3924 9663.348 32 591.06 42.27715 548.7829 9114.665 33 591.06 39.87622 551.1838 8563.381 34 591.06 37.46479 553.5952 8009.786 35 591.06 35.04281 556.0172 7453.769 36 591.06 33.61024 558.4498 6895.319 37 591.06 30.16702 560.893 6334.426 38 591.06 27.71311 563.3469 5771.079 39 591.06 25.24847 565.8115 5205.268 40 591.06 22.77305 568.287 4636.981 41 591.06 20.28679 570.7732 4066.208 42 591.06 17.78966 573.2703 3492.937 43 591.06 15.2816 575.7784 2917.159 44 591.06 12.76257 578.2974 2338.861 45 591.06 10.23252 580.8275 1758.034 46 591.06 7.691398 583.3686 1174.665 47 591.06 5.139161 585.9208 588.7445 48 591.06 2.575757 588.7445 0

Notes:

How to calculate interest part in excel

Balance of previous month*5.25%/12

Suppose if it is 1st year

Balance of previous month = 25540

Interest = 25540*5.25%/12 = 111.7375 (same continuous for remaining)

If you are doing it in excel select the previous month cell,multiply with 5.25% and divided by 12 after doing this for one cell give Ctrl+D so that formula gets copied to other cells

How to get principal amount

Payment - interest = principal

How to get balance

Balance of previous month - principal of current month

* I hope this serves ur purpose *