Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have done some work on this sheet, but it feels as if I am doing something wrong. Thoughts? I am attempting to find the

I have done some work on this sheet, but it feels as if I am doing something wrong. Thoughts? I am attempting to find the Payment, Principal, Interest, and Balance. You may have to right click the picture, then select view to see a bigger image.

image text in transcribed

C7 $20,000 5.00% 1 Loan Amount 2 Annual Interest Rate 3 Payments Per Year 4 Loan term 2 years Payment Number Principal ($20,083.33)($794.09 Years Payment Interest Balance $83.33) (S20,166.67) ($20,960.76 ($80.02) ($10,142.57) $76.701 ($6,799.00 ($73.37)($5,125.56) $10,062.54)($797.40 ($6,722.30)($800.73) ($5,052.19)($804.06) ($4,050.14($807.41) ($3,382.11) ($810.78) ($2,904.96)($814.15) ($2,547.10)($817.55) ($2,268.78)($820.95) 4 ($70.02)($4,120.15) ($66.65)($3,448.76) ($63.27)($2,968.23) $59.88 ($56.47 $53.05 $49.62 ($46.17 42.71 S39.23 ($35.74) S32.23 $28.71 $25.17 ($21.62) $18.05 $14.47 $10.88 12 (S2,046.12($824.37) ($2,046.12)($824.37) ($1,863.95)($827.81) ($1,712.15)($831.26) ($1,583.71) ($834.72) ($1,473.62)($838.20 ($1,378.21) ($841.69) ($1,294.73)($845.20) ($1,221.08)($848.72 ($1,155.61) ($852.26) ($1,097.04)($855.81) 21 ($996.64) ($862.96) ($953.29)($866.55) ($913.71)($870.16) ($877.43)($873.79) $7.27 ($3.64) Loan Amortization Cumulative PaymentsDepreciationFinancial Functions Ready + 100% 7:04 PM

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Law And Order Review 1993 An Audit Of Crime Policing And Criminal Justice Issues

Authors: John Benyon

1st Edition

1874493901, 978-1874493907

More Books

Students also viewed these Accounting questions