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    Bilal Ali 2nd Assignment

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    Bilal Ali
    This document shows an amortization schedule for a $20,000 loan with an interest rate of 16% over 15 years. It lists the yearly payment amount of $3,587.15, and breaks down how much of each payment goes toward interest and principal each year, with the principal amount decreasing each year until the loan is paid off after 15 years of payments.

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    Bilal Ali 2nd Assignment

    Uploaded by

    Bilal Ali
    30 views1 page
    This document shows an amortization schedule for a $20,000 loan with an interest rate of 16% over 15 years. It lists the yearly payment amount of $3,587.15, and breaks down how much of each payment goes toward interest and principal each year, with the principal amount decreasing each year until the loan is paid off after 15 years of payments.

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    bilal ali 2nd assignment.xlsx

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    This document shows an amortization schedule for a $20,000 loan with an interest rate of 16% over 15 years. It lists the yearly payment amount of $3,587.15, and breaks down how much of each payment goes toward interest and principal each year, with the principal amount decreasing each year until the loan is paid off after 15 years of payments.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    30 views1 page

    Bilal Ali 2nd Assignment

    Uploaded by

    Bilal Ali
    This document shows an amortization schedule for a $20,000 loan with an interest rate of 16% over 15 years. It lists the yearly payment amount of $3,587.15, and breaks down how much of each payment goes toward interest and principal each year, with the principal amount decreasing each year until the loan is paid off after 15 years of payments.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
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    amortization schedule

    DATA
    loan 20000
    intrest 0.16
    years 15
    payment $3,587.15

    years PMT intrest principle amount 20000


    1 $3,587.15 3200 $387.15 $19,612.85
    2 $3,587.15 3138.056 $449.09 $19,163.76
    3 $3,587.15 3066.201 $520.95 $18,642.81
    4 $3,587.15 2982.849 $604.30 $18,038.50
    5 $3,587.15 2886.161 $700.99 $17,337.51
    6 $3,587.15 2774.002 $813.15 $16,524.37
    7 $3,587.15 2643.899 $943.25 $15,581.11
    8 $3,587.15 2492.978 $1,094.17 $14,486.94
    9 $3,587.15 2317.911 $1,269.24 $13,217.70
    10 $3,587.15 2114.832 $1,472.32 $11,745.38
    11 $3,587.15 1879.261 $1,707.89 $10,037.49
    12 $3,587.15 1605.999 $1,981.15 $8,056.34
    13 $3,587.15 1289.015 $2,298.14 $5,758.21
    14 $3,587.15 921.3133 $2,665.84 $3,092.37
    15 $3,587.15 494.7794 $3,092.37 ($0.00)

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