Figure 1.4 Pawn Log Report GOODE'S PAWNBROKER Pawn Log Report Loan Transaction Customer |Item Start Item Item Loan Category Item Item Secured | Monthly Description | Value Amount |Payments Approved? ID ID Code Date Quantity Condition |Amount Figure 1.5 Pawn Log Report Column Details Category Category located in the item valuation table. Item Description Item Description located item valuation table Item Value Item Value located in the item valuation table Secured Amount This is given by the condition percentage * item value Monthly Payments This is obtained by using MS Excel PMT function. Annual rates and number of years are located in the Loan rate band table. The present value is the Loan Amount supplied by the customer. Loan Approved? Approve loan only if loan amount is less than or equal to the secured amount. Use "Yes" if loan is approved and "No" if loan is denied.Figure 1.6 Loan Schedule GOODE'S PAWNBROKER Customer Loan Schedule March 1, 2016 Transaction ID 10001 Customer ID 1000 Customer Name: Antonio Brown Loan Amount: $300,000.00 Annual Interest Rate 25% Number of Periods 36 Monthly payments J$29,246.14 Secured Amount $300,000.00 Loan Approved? Yes Beginning Principal Pre- Ending Period Balance Interest Paid payment Balance J$3,000,000.00 J$300,000.00 J$7,500.00 J$21,746.14 J$278,253.86 J$278,253.86 J$6,956.35 J$22,289.79 J$255,964.07 J$255,964.07 J$6,399.10 J$22,847.04 J$233,117.03 J$233,117.03 J$5,827.93 J$23,418.21 $209,698.81 J$209,698.81 J$5,242.47 J$24,003.67 J$80,000.00 J$105,695.14 J$105,695.14 J$2,642.38 J$26,603.76 J$79,091.38 J$79,091.38 J$1,977.28 J$27,268.86 J$51,822.53 J$51,822.53 J$1,295.56 J$27,950.58 J$23,871.95 J$23,871.95 J$596.80 J$23,275.15 J$0.00 Figure 1.7 Customer Loan Schedule Column Details Period This is the month in which the monthly payment is due. Period 0 will be the first month the loan is taken. Beginning Balance This is the balance on loan at the start of the period after taking out the previous period's interest, principal paid and pre- payments. Interest This is the portion of the monthly payment that is paid towards interest Principal Paid This is the portion of the monthly payment that is paid towards the principal Pre-payments Ending Balance Any lump sum or un-schedule payments made towards the loan This is the balance at the end of the period i.e. Beginning Balance - (Interest + Principal Paid + Pre-Payments) Avoid having negative balances i.e Interest, Principal Paid, Beginning and Ending Balance