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Please compute the additional payment. also please include the formula used in excel.Thank You!! Auto Loan Payment Calculator Inputs Auto Loan Amount $20,000 Annual Interest

Please compute the additional payment. also please include the formula used in excel.Thank You!!

Auto Loan Payment Calculator
Inputs
Auto Loan Amount $20,000
Annual Interest Rate 8.50%
Term of Loan in Years 3
First Payment Date 2/1/18
Last Payment Date 1/1/21
Frequency of Payment Monthly
Summary
Number of Payments 36
Rate (per period) 0.708%
Payment (per period) $631.35
Total Interest $2,728.63
Total Payments $22,728.63
No. Due Date Payment Due Additional Payment Interest Principal Balance
$20,000.00
1 2/1/18 631.35 0.00 141.67 489.68 19,510.32
2 3/1/18 631.35 0.00 138.20 493.15 19,017.17
3 4/1/18 631.35 0.00 134.70 496.65 18,520.52
4 5/1/18 631.35 0.00 131.19 500.16 18,020.36
5 6/1/18 631.35 0.00 127.64 503.71 17,516.65
6 7/1/18 631.35 0.00 124.08 507.27 17,009.38
7 8/1/18 631.35 0.00 120.48 510.87 16,498.50
8 9/1/18 631.35 0.00 116.86 514.49 15,984.01
9 10/1/18 631.35 0.00 113.22 518.13 15,465.88
10 11/1/18 631.35 0.00 109.55 521.80 14,944.08
11 12/1/18 631.35 0.00 105.85 525.50 14,418.58
12 1/1/19 631.35 0.00 102.13 529.22 13,889.36
13 2/1/19 631.35 0.00 98.38 532.97 13,356.39
14 3/1/19 631.35 0.00 94.61 536.74 12,819.65
15 4/1/19 631.35 0.00 90.81 540.54 12,279.11
16 5/1/19 631.35 0.00 86.98 544.37 11,734.74
17 6/1/19 631.35 0.00 83.12 548.23 11,186.51
18 7/1/19 631.35 0.00 79.24 552.11 10,634.40
19 8/1/19 631.35 0.00 75.33 556.02 10,078.38
20 9/1/19 631.35 0.00 71.39 559.96 9,518.42
21 10/1/19 631.35 0.00 67.42 563.93 8,954.48
22 11/1/19 631.35 0.00 63.43 567.92 8,386.56
23 12/1/19 631.35 0.00 59.40 571.95 7,814.61
24 1/1/20 631.35 0.00 55.35 576.00 7,238.61
25 2/1/20 631.35 0.00 51.27 580.08 6,658.53
26 3/1/20 631.35 0.00 47.16 584.19 6,074.34
27 4/1/20 631.35 0.00 43.03 588.32 5,486.02
28 5/1/20 631.35 0.00 38.86 592.49 4,893.53
29 6/1/20 631.35 0.00 34.66 596.69 4,296.84
30 7/1/20 631.35 0.00 30.44 600.91 3,695.93
31 8/1/20 631.35 0.00 26.18 605.17 3,090.76
32 9/1/20 631.35 0.00 21.89 609.46 2,481.30
33 10/1/20 631.35 0.00 17.58 613.77 1,867.53
34 11/1/20 631.35 0.00 13.23 618.12 1,249.40
35 12/1/20 631.35 0.00 8.85 622.50 626.90
36 1/1/21 631.34 0.00 4.44 626.90 0.00

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