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need answer in excel - upload excel file with formulas if possible Use the following check digits: Sum Total Cash flow = Sum interest paid
need answer in excel - upload excel file with formulas if possible
Use the following check digits:
Sum Total Cash flow = Sum interest paid
Owe at end = $0
2 You borrow money on a self liquidating installemnt loan (equal payments at the end of each year, each payment is part principal part interest) 3 Loan $195,000 4 Interest Rate 10.70% 5 Life (years) 6 Date of Loan January 1, 2020 9 Use the installment method - not straight line 10 DO NOT round any interrmediate numbers. 11 Do NOT turn this into a monthly problem. 12 13 a) What is the annual payment? 14 b) What are the total interest payments? 15 C) After 32 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? 16 d) After 32 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)? 17 18 Redo the problem if the interest rate is 2.00% 20 (for a well designed spreadsheet this should take 30 seconds) 22 e) What is the annual payment? 23 f) What are the total interest payments? 24 g) After 32 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? 25 h) After 32 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)Step by Step Solution
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