Question
Edit 1: **There is nothing missing from the question, this is what was given for the assignment, I know how to handle finding the interest
Edit 1: **There is nothing missing from the question, this is what was given for the assignment, I know how to handle finding the interest and principal, just struggling to get the first month's ending balance**
Edit 2: This is one piece of an entire amortization table I am needing to fill out, just needing assistance with this one question or an explanation of what I'm doing wrong.
Develop Amortization table for the payment of a loan on a house in excel
Payments are monthly for 10 years (120)
Loan on the house is $179,000
Interest is 5.3% annual
Payment: $1924.93
I am struggling to find the Ending Balance
Payment # (of of 120) Payment Month Beginning Balance Ending Balance
1 April 02 179,000 X
I checked via financial calculator and got $177,865.72, however when I input it into excel I receive 177,865.65. Are you able to please assist here as I don't want to get the entire piece of the entire assignment wrong by being off by $.07.
=-PV(5.3%/12,(120-B13),$C$9,0) ; B13 = Payment #1, C9 is Payment: $1924.93
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