Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

real estate related. could you solve for FV and PV with the information given? what would the formula/inputs be. Thank you. these would be annual

real estate related.
could you solve for FV and PV with the information given? what would the formula/inputs be. Thank you.
image text in transcribed
these would be annual payments. thanks!
C D G H Use the FV (Future 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% ($29,417,986) Interest Principal 1 2 4 5 6 7 Begin $4,000,000 $4,000,000 $3,633,333 $3,266,667 $2,900,000 $2,533,333 $2,166,667 $1,800,000 $1,433,333 $1,066,667 $ 700,000 $333,333 -$33,333 -$400,000 $766,667 -$1,133,334 PMT $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $33,333,33 $33,333.33 $33,333.33 $33,333.33 $2,333.33 $33,333,33 $33,333.33 $33,333.33 $33,333.33 $33,333.33 $33,333.33 $33,333,33 $33,333.33 $33,333.33 $33,333.33 8 End $4,000,000 $3,633,333 $3,266,667 $2,900,000 $2,533,333 $2,166,667 $1,800,000 $1,439,333 $1,066,667 $700,000 $333,333 -$33,333 -$400,000 -$ 766,667 -$1,133,334 $1,500,000 $366,666 68 $366,666.68 $366,666.68 $366,666.68 $366,666,68 $366,666.68 $366,666.68 $366,666,68 $366,666.68 $366,666,68 $366,666,68 $366,666,68 $366,666.68 $366,666.68 $366,666 68 9 10 11 12 13 14 15

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

Accounting

Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones

5th Edition

0130906999, 978-0130906991

More Books

Students explore these related Accounting questions