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Please solve in Microsoft Excel. I finished my Amortization Schedule but what is the correct PV formula? Thank You! Use the PV (Present Value) function
Please solve in Microsoft Excel. I finished my Amortization Schedule but what is the correct PV formula? Thank You!
Use the PV (Present Value) function to determine the outstanding loan balance in Year 5. Use the amortization schedule below to check your work. Loan Principal Loan Term Interest Rate Loan Balance $4,000,000 15 10.00% $23,620,700 Interest Principal 0 1 2 3 4 5 6 7 Begin $4,000,000 $4,000,000 $3,874,105 $3,735,620 $3,583,287 $3,415,721 $3,231,398 $3,028,642 $2,805,612 $2,560,278 $2,290,410 $1,993,556 $1,667,017 $1,307,823 $912,711 $478,086 0 PMT $525,895 $525,895 $525,895 $525,895 $525,895 $525,895 $525,895 $525,895 $525,895 $525,895 $525,895 $525,895 $525,895 $525,895 $525,895 $525,895 $400,000.00 $387,410.49 $373,562.03 $358,328.72 $341,572.08 $323,139.78 $302,864.24 $280,561.16 $256,027.76 $229,041.03 $199,355.62 $166,701.67 $130,782.33 $91,271.05 $47,808.65 0 8 End $4,000,000 $3,874,105 $3,735,620 $3,583,287 $3,415,721 $3,231,398 $3,028,642 $2,805,612 $2,560,278 $2,290,410 $1,993,556 $1,667,017 $1,307,823 $912,711 $478,086 $0 0 $125,895.11 $138,484.62 $152,333.08 $167,566.39 $184,323.03 $202,755.33 $223,030.86 $245,333.95 $269,867.34 $296,854.08 $326,539.49 $359,193.43 $395,112.78 $434,624.06 $478,086.46 0 9 0 1 2 3 4 5 0Step by Step Solution
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