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Loan Pay Calculator

This document provides information about a $30,000 loan with an annual interest rate of 5.5% that is paid off over 1 year in 12 monthly payments plus an extra $100 payment each month. It includes tables showing the scheduled monthly payment amount, extra payment, total payment, interest, principal and remaining balance over the 12 month period.

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HRITHIK CHOUKSE
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29 views6 pages

Loan Pay Calculator

This document provides information about a $30,000 loan with an annual interest rate of 5.5% that is paid off over 1 year in 12 monthly payments plus an extra $100 payment each month. It includes tables showing the scheduled monthly payment amount, extra payment, total payment, interest, principal and remaining balance over the 12 month period.

Uploaded by

HRITHIK CHOUKSE
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Using the IFERROR Function

Annual Interest rate 5.50%


Loan Term (in years) 1
Payments Per Year 12
Loan Amount $ 30,000.00
Extra Payment $ 100.00
Scheduled Payment $ 2,575.10

Period Payment Extra Payment Total Payment


0
1 $ 2,575.10 $ 100.00 $ 2,675.10
2 $ 2,575.10 $ 100.00 $ 2,675.10
3 $ 2,575.10 $ 100.00 $ 2,675.10
4 $ 2,575.10 $ 100.00 $ 2,675.10
5 $ 2,575.10 $ 100.00 $ 2,675.10
6 $ 2,575.10 $ 100.00 $ 2,675.10
7 $ 2,575.10 $ 100.00 $ 2,675.10
8 $ 2,575.10 $ 100.00 $ 2,675.10
9 $ 2,575.10 $ 100.00 $ 2,675.10
10 $ 2,575.10 $ 100.00 $ 2,675.10
11 $ 2,575.10 $ 100.00 $ 2,675.10
12 $ 1,444.39 $ - $ 1,444.39
ction

Principal Interest Balance


$ 30,000.00
$ 2,437.60 $ 137.50 $ 27,462.40
$ 2,449.23 $ 125.87 $ 24,913.16
$ 2,460.92 $ 114.19 $ 22,352.24
$ 2,472.66 $ 102.45 $ 19,779.59
$ 2,484.45 $ 90.66 $ 17,195.14
$ 2,496.29 $ 78.81 $ 14,598.85
$ 2,508.19 $ 66.91 $ 11,990.66
$ 2,520.15 $ 54.96 $ 9,370.51
$ 2,532.16 $ 42.95 $ 6,738.35
$ 2,544.22 $ 30.88 $ 4,094.14
$ 2,556.34 $ 18.76 $ 1,437.80
$ 1,437.80 $ 6.59 $ -
Using the PPMT Function

Annual Interest rate 5.50%


Loan Term (in years) 1
Payments Per Year 12
Loan Amount $ 30,000.00
Extra Payment $ 100.00
Payment (PMT) $2,575.10

Period Payment Extra Payment Total Payment


0
1 $2,575.10 $ 100.00 $2,675.10
2 $2,575.10 $ 100.00 $2,675.10
3 $2,575.10 $ 100.00 $2,675.10
4 $2,575.10 $ 100.00 $2,675.10
5 $2,575.10 $ 100.00 $2,675.10
6 $2,575.10 $ 100.00 $2,675.10
7 $2,575.10 $ 100.00 $2,675.10
8 $2,575.10 $ 100.00 $2,675.10
9 $2,575.10 $ 100.00 $2,675.10
10 $2,575.10 $ 100.00 $2,675.10
11 $2,575.10 $ 100.00 $2,675.10
12 $2,575.10 $ 100.00 $2,675.10
tion

Interest Principal Balance


$ 30,000.00
$137.50 $2,437.60 $ 27,562.40
$126.33 $2,448.78 $ 25,113.62
$115.10 $2,460.00 $ 22,653.62
$103.83 $2,471.27 $ 20,182.35
$92.50 $2,482.60 $ 17,699.75
$81.12 $2,493.98 $ 15,205.77
$69.69 $2,505.41 $ 12,700.36
$58.21 $2,516.89 $ 10,183.46
$46.67 $2,528.43 $ 7,655.03
$35.09 $2,540.02 $ 5,115.01
$23.44 $2,551.66 $ 2,563.35
$11.75 $2,563.35 $ -
>>> Pracitce Yourself >>>

Annual Interest rate 5.50%


Loan Term (in years) 1
Payments Per Year 12
Loan Amount $ 30,000.00
Extra Payment $ 100.00

Period Payment Extra Payment Total Payment


0
1
2
3
4
5
6
7
8
9
10
11
12
f >>>

Principal Interest Balance


$ 30,000.00

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