Please solve Q1 to Q8....! thank you...!
Number of years you have to pay the loann 15 Number of months you have to pay the loan, n'm 180 s Nominal annual intereste na compounded monthly 7.00 Efective monthly interest (w/m) 0.58% Orginal loan amount 5927 262 Feed monthly repayment (Paramount $8,334.49 Answer must be power than DO NOT Round any amounts in the Amortisation Schedule. Use format commands to display as currency Loan Amortisation Schedule Month Balance at the beginning of month Interest paid Principal paid Balance at the end of month 1 927, 252.000 5,409.03 2,925.465 924.336.535 Z 924, 336.535 5,361.152 2,973.341 921,363 1914 3 921,363.114 5,343.907 2,990.586 918,372 608 4 918, 372.608 5,326.56 3.007912 915,364.676 5 915,354.576 5,309. 115 3,025.378 912,339.298 6 912,339.298 5,291.568 3,042.925 909,296.373 7 909,296.373 4,918,409,844.59 4,918,401,510.100 4,919,310,806 473 8 4,919,310,806.473 28,532,002.678 28.523,668.185 4, 947,834, 474.657 4,947,834,474.657 28,697,439.93 28,689, 105.450 4,976,523,580.117 10 4,976,523,580.117 28,863,836.76 28,858,545. 197 S005, 382, 125.314 11 5,005, 382, 125314 29,031,216.127 29,022,881.834 5,034,405,007,148 12 5,034, 405,007.148 29, 199,549.041 29, 191,214548 5,063,596,221.696 13 5,063,5, 221.696 29,368,858.09 29, 360,523593 5,092,956, 745.289 14 5,092,956, 745.289 29,539, 149. 123 29,530,814.630 5,122,487,559.919 15 S 122,487,559.919 29,710,427.348 29,702,093 355 5, 152, 189,653 273 16 29,031,216.327 168, 381.05 160,046.562 29, 191,262 889 17 29, 191,262 889 169,209.325 160,974.832 29,352,237.720 18 29,352,237.720 170,242.979 161,908.486 29,514, 146.200 19 29,514, 145.205 171, 182. Os 162,847.555 29,676,993.761 20 29,676,993761 172, 126,564 163,792.071 29,840,785.832 21 29,840, 785.832 173,076.558 164.742.065 30,005,527.897 22 30,005,527.897 174,032.05 165,697.569 30, 171,225.465 23 30, 171,225,465 174993. 108 166,658.615 30,337,884.080 24 30,337,884.00 175,959.728 167,625.235 30, SOS, 509.315 25 30, SOS, 509 315 176,931.95 168,597.451 30,674, 106.776 26 30,674, 106.776 177,909,819 169,575.325 30,843,682102 27 30,843,682 102 178, 893.356 170,558.863 31,014,240, MS 28 31,014,240.965 179,882.60 171,548.105 31,185, 789.070 29 31,185, 789.070 180,877.577 172,543.084 31,358,332.154 30 31,358,332.154 181,878.326 173,543.833 31,531,875.987 31,531,875.987 182,884.88 174, 550.388 31,706,426.375 31,706,425.375 183,897.273 175,562.780 31,881,989. 155 31,881,989.155 184,915.537 176,581.044 32,058,570.199 34 32,058,570.199 185,939.71 177,605214 32,226, 175.413 32,226, 175.413 185,959.817 178,635.324 32,414,810.737 36 22,414,810.737 188,005.902 179,671.409 22,594,482.147 37 22,594 482.147 189,048.00 180,713 503 22,775,195.650 38 32,775, 195.650 190,096.135 181,761.542 32.956,957.292 32,956,957.292 191, 150.352 182,815.859 33, 139,773.151 40 33, 139,773.151 192,210.58 183,876. 191 33,323,649.342 41 33,323 649.342 193,277.166 184,942.673 33,508, 592 016 42 33,508,592 016 194,349.834 185,015.341 33,694, 607 356 43 33,694,607 356 195,428.72 187,094.230 33,881,701.586 33,881,701.586 196,513.869 188, 179.376 34,069,880 M2 45 34,059,880.952 197,605.310 189,270.817 34, 259, 151.779 46 34, 259, 151.779 198, 70308 190, 368.587 34.449, 520.366 LE ZE EE SE EOS 6E 5 Calculate the amount of interest paid in the month 45. 02 Calculate the total amount of principal paid from the beginning of month 30 to the end of month 60. Q3 Calculate the amount of the loan outstanding balance at the end of month 75. 04 At the end of which month will it be for the loan outstanding balance to be less than 30% of the original loan amount for the first time? Useful clue: Which function gives the number of time period? Think about the rounding rules for the final answer. Roundup or rounddown? Remember you can check your answer in the amortisation schedule. 95 Useful clue: Which function gives the interest rate? What is the loan outstanding balance when the interest rate changes Q6 Useful clue: Which function gives the total interest paid? Q7 New Scenario (Independent): At the end of the month 90, the interest rate increases. To pay off the loan by the original date, you need to increase the original month-end repayment amount by $300. Calculate the increased interest rate p.a. compounded monthly. New Scenario (Independent): From the beginning of the loan term, you repay a higher amount of month-end repayment in order to pay off the loan 5 years earlier than the original date. The interest rate does not change. Calculate the amount of interest you can save by paying off the loan earlier. New Scenario (Independent): Suppose you only repay the interest amount of the loan each month end for the first 15 months. To be able to pay off the loan by the original date, you will need to repay higher equal month-end repayments when the interest-only period expires. Calculate the amount of principal paid from the beginning of month 60 to the end of month 90. New Scenario (Independent): You lose your job because of COVID-19 and the bank agrees that you do not make any repayment from the beginning of month 105 to the end of month 120. The interest keeps accumulating during this period. From month 121, you will need to repay higher equal month-end repayments to pay off the loan by the original date. Calculate the increased Useful clue: Think about how the interest-only term would affect the nper? How would it affect the start period and end period? Q8 Useful clue: You can start with calculating the loan outstanding balance when you resume the repayments. You can use a function as an input/argument for another function
