D E F G Total of all payments: Total Interest Paid: $178,744.29 $74,744.29 A 8 1 Amoritiration Table 2 3 Price $130,000 4 Down Payment $26,000 5 Principal $104,000 This is PV 6 Annual Interest Rate 0.04 - This is 7 No. of periods per year 12 - This is m 8 Rate per interest period 0.003333333 - This is t/m 9 Duration (no. of periods) 360 -- This is mt 10 Periodic Payment 496.5119073 - This is PNO 11 12 Beginning Balance Interest Payment 13 1 $ 104,000.00 $ 346.67 $ 14 2 S 103,850.15$ 346.17 $ 15 3. $ 103,699.81 S 345.67 16 4 $ 103,548.96 $ 345.16 S 17 5 $ 103,397.62 $ 344.66 S 18 6S 103,245.76 $ 344.15 S 19 7$ 103,093.40 $ 343.64 $ 20 8 $ 102,940.54 $ 343.14 21 9 $ 102,787.16 S 342.62 S 22 10 S 102,633.27 S 342.11 S 23 11 S 102,478.87 $ 341.60 S 24 12 $ 102,323.95$ 341.08 $ 25 13 S 102,161.52 340.56S 26 14 S 102,012,57 140.015 27 15$ 101,856.105 29.52 $ 28 16 S 101.699.11 S 339.00 $ 17 101,100 338.47 $ 30 139 101,383,565 337.95 $ 31 195 101,224.99 $ 137.42 S 12 205 101,065.39S 336.89 $ 21 S 100,900,27 s 336,355 22 $ 100,76.11 $ 335.12 5 33 23 100,585.42 $ 235.28 $ 24 100,424.19 S 334,75 5 12 100,262.43S 334.215 38 265 100,100,125 333.675 39 27S 99,937:21 31.123 40 2S 2,75 12.53 99,00 332.015 2 105 99 $ 315 99,210.45 0.535 Instructions Example Carloan problem Student loans problem Amount to Principal Ending Balance 496.51 S 149.85 $ 103,850.15 496.51 S 150.34 $ 103,699.81 496.51 $ 150.85s 103,548.96 496.51 $ 151.35 $ 103,397.62 496.51 $ 151.85 S 103,245.76 496.51 S 152.36 $ 103,093.40 496.51 $ 152,87 S 102.500.50 496.51 $ 153.38 $ 102,787.15 196.51 $ 153.89 $ 102,633.27 196 51 S 154.40 S 102,478.87 49651 S 154.92 $ 102,323.95 496.51 $ 155.43S 102.168.52 496 51 $ 155.95$ 102,012.57 496 51 S 156.47 S 101.856.10 490315 156.99 $ 101,0911 496.51 $ 157.51 $ 101,541.00 496.51 $ 158.04 S 101,383.56 496,51 $ 158.57 $ 101,224.99 490.51 S 159,105 101,065.89 96.51 $ 199.00 $ 100,906.27 196.51 S 160.163 100,786.11 19651 S 100.69S 100,585.2 496,515 161.23 $ 100.424. 43.31 S 161.765 100,267,43 496.51 $ 162.10 3 100.100.12 196,519 162.34 $ 99,937.38 490.51 163.39 99.733 410515 139S ANESIS 15 49:51 S 16005 490315 165585 25 5 D E G 11 321 $ 322 $ 323 S 324 S 325 $ 325 5 327 5 3285 329 $ 330 $ 381 332 S 3335 334 S 335 $ 336 $ 337 $ 338 $ 339 $ 340 S 341 $ 342 S 343 $ 14S 18,564.47 $ 18,129.84 S 17,693.75 17,256.23 $ 15,817.24 $ 16,376.78 $ 15,934.86 15,491.47 $ 15,046.59 $ 14,600.24 14,152.39 $ 13,703.05$ 13,252.22 $ 12,799.88 12.346.04 S 11,890.68 $ 11,433.10 10,975.40 10,515,47 S 10,054,01$ 9,591.02 S 9,126.47 $ 8,660.33S 192.74 7.72354S 7.252.77S 6.70.43S 6,306.52 S 5,531.03 $ 5,252.96 $ 4,875.295 4,395,03 S 3,913.17 3,429.705 2.144,625 2.457.935 1,965,615 1A7.665 983.085 49.50 61.88 $ 60.435 58.98 57.525 56.06 $ 54.59 $ 53.12 s 5164 S 50.16 $ 48.67 $ 47.17 $ 45.68 $ 44.17 S 42.67 S 41.15 S 39.64s 11 S 35.585 35.05 33.51 $ 31.975 30425 2.375 27.315 25.755 24.155 22.00 S 21.00 5 496.51 $ 496.51 S 496.51 S 496.51 S 496.51 $ 496.51 $ 496.51 $ 496.51 $ 496.51 $ 496.51 $ 496.515 496 51 $ 496.51 $ 496,51 S 496.51 S 496.513 436,51 496.51 S 496.51 $ 496.51 $ 496.51 $ 496,51 S 196.51 S 490515 496,51 5 490.515 49,513 495.513 49.51 49:53 496,513 190.515 496 515 651 S 496515 10:51 496515 496.515 496 51 $ 1515 434.635 436.08 $ 437.53 $ 438.99 $ 140.45 441.92 $ 44340 $ 464.875 146.36 S 47.84 S 149.34 $ 450.84 S 452.34 $ 453.85 S 453.36 $ 456S 458.40 S 459.93S 461/6S 453.00 461.54 $ 466,09 $ 167,615 409.20$ 40.775 472,34 471.95 473,49 472.05 4711.675 0.265 401.09 147 S SOS 106.70 12 S X5 11.95 193.22 365 F 18,129.84 17,693.76 17,256.23 16,817.24 16,376.78 15,934.86 15,491.47 15,046.59 14,600.24 14.152.39 13,703.05 13,252.22 12.1998 12,346.04 11.890,68 11.433.80 10,975.00 10.515,47 10,054.01 9,591:02 9,126:47 3,660.38 8,192.24 7.720.54 7,252,77 6780,43 6,306,59 5,331.03 5,157.96 4,875.29 4,395.00 3,9112 1 3.039.70 2,4. 2:4573 1.9961 1,429.00 . 345 5 140S 479 M18 S 149 $ 150 S 151 352 $ 153 S 354 5 155$ 156 $ 157 $ 17.053 16.55 14.63 S 11.045 11.433 5 1.19 6.57 $ 4.33 3.29 $ 1.655 159 3603 0.00 Instructions Example Cloan problem Student loans problem Problem Use the completed mortgage amortization table for the questions, 1. 3 points) Upload a copy of your completed Excel table to the dropbox on 2. (2 points) In what month will the borrower begin paying more towards principal month than interest 3.12 points) What is the total amoum of interest the borrower will pay over the life of the 30-year loan? 12 poluta) Sappow the banketuste offers you the option of a 15-year loan at 35. How much money will you use with this option in tutoret of 30 year loansteet of 15 year loan