Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Refer to the below amortisation schedule. A B D E 1 n 10 2 Period Interest Rate, i 6.00% End-of- Beginning-of- period 3 Period period
Refer to the below amortisation schedule. A B D E 1 n 10 2 Period Interest Rate, i 6.00% End-of- Beginning-of- period 3 Period period Balance Interest Repayment Balance 4 1 $ 100,000 $ 6,000.00 -$13,586.801 $ 92,413 5 2 $ 92,413 $ 5,544.79 -$13,586.80 $ 84,371 6 3 $ 84,371 $ 5,062.27 -$13,586.80 $ 75,847 4 $ 75,847 $ 4,550.80-$13,586.80 $ 66,811 8 50 $ 66,811 $ 4,008.64 -$13,586.80 $ 57,233 9 6 $ 57,233 $ 3,433.95 -$13,586.80 $ 47,080 10 7 $ 47,080 $ 2,824.78 -$13,586.80 $ 36,318 11 8 $ 36,318 $ 2,179.06 -$13,586.80 $ 24,910 12 9 $ 24,910 $ 1,494.60 $13,586.80 $ 12,818 13 10 $ 12,818$ 769.06 -$13,586.80-$ 0 ! To calculate the amount of the principal repaid from period 0 to period 5, we could use the formula: Select one: O A. =CUMIPMT (C2,C1,B4,A4,A8) O B. =CUMIPMT(C2,C1,B4, A8, A4) O C. =RATE(C2,C1,B4, A8, A4) D. =-CUMPRINC(C2,C1,B4, A4, A8,0) O
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started