Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is outstanding balance and total PRN and Total INT for the 3 year Calculator 15 Year Amortization 20 Year Amortization 25Year Amortization 12 12

What is outstanding balance and total PRN and Total INT for the 3 year
image text in transcribed
Calculator 15 Year Amortization 20 Year Amortization 25Year Amortization 12 12 12 N e 180 3.89% $ 345,800 $2,538.82 240 -3.89%, $ 345,800 $2,075.49 300 3.89% $ 345,800 $1,804.32 0 PV = PMT Analysis of what P1 1 happened over the first five (3) years P1 = 1 P1-1 P2 60 P2 60 P2 = 60 BAL Outstanding !BAL Outstanding = |BAL Outstanding Total PRN- Total PRN Total PRN= Total INT = Total INT Total INT

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

Step: 3

blur-text-image

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

Financial And Managerial Accounting The Basis For Business Decisions

Authors: Jan Williams, Sue Haka, Mark S Bettner

13th Edition

0072942827, 978-0072942828

More Books

Students also viewed these Accounting questions

Question

Who do you know that is a member of a microcultural group?

Answered: 1 week ago