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    Loan Pay Calculator

    Uploaded by

    HRITHIK CHOUKSE
    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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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Loan Pay Calculator

    Uploaded by

    HRITHIK CHOUKSE
    15 views6 pages
    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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    © © All Rights Reserved

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    XLSX, PDF, TXT or read online from Scribd

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    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.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    15 views6 pages

    Loan Pay Calculator

    Uploaded by

    HRITHIK CHOUKSE
    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.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 6

    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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