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    Solving For R

    Uploaded by

    Kamil Geaga
    This document shows the amortization schedule for a loan of $25,000 with an interest rate of 18% over 2 years with monthly payments. Over the course of 24 monthly payments, the principal balance is paid down from $25,000 to $1,229.73 through a combination of interest charges and payment to principal in each period.

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    Solving For R

    Uploaded by

    Kamil Geaga
    9 views3 pages
    This document shows the amortization schedule for a loan of $25,000 with an interest rate of 18% over 2 years with monthly payments. Over the course of 24 monthly payments, the principal balance is paid down from $25,000 to $1,229.73 through a combination of interest charges and payment to principal in each period.

    Original Description:

    Computations for Solving R and Amortization Schedule

    Original Title

    Solving for R

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    This document shows the amortization schedule for a loan of $25,000 with an interest rate of 18% over 2 years with monthly payments. Over the course of 24 monthly payments, the principal balance is paid down from $25,000 to $1,229.73 through a combination of interest charges and payment to principal in each period.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    9 views3 pages

    Solving For R

    Uploaded by

    Kamil Geaga
    This document shows the amortization schedule for a loan of $25,000 with an interest rate of 18% over 2 years with monthly payments. Over the course of 24 monthly payments, the principal balance is paid down from $25,000 to $1,229.73 through a combination of interest charges and payment to principal in each period.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 3

    Given:

    A = 25000
    j = 18%
    m = 12
    t = 2 years

    Principal Balance

    Interest

    Payment to
    Principal

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

    25000
    24126.90
    23240.70
    22341.21
    21428.23
    20501.56
    19560.98
    18606.29
    17637.29
    16653.75
    15655.45
    14642.19

    1248.1
    1248.10
    1248.10
    1248.10
    1248.10
    1248.10
    1248.10
    1248.10
    1248.10
    1248.10
    1248.10
    1248.10

    375
    361.90
    348.61
    335.12
    321.42
    307.52
    293.41
    279.09
    264.56
    249.81
    234.83
    219.63

    873.1
    886.20
    899.49
    912.98
    926.68
    940.58
    954.69
    969.01
    983.54
    998.29
    1013.27
    1028.47

    13

    13613.72

    1248.10

    204.21

    1043.89

    14

    12569.82

    1248.10

    188.55

    1059.55

    15

    11510.27

    1248.10

    172.65

    1075.45

    16

    10434.83

    1248.10

    156.52

    1091.58

    17

    9343.25

    1248.10

    140.15

    1107.95

    18

    8235.30

    1248.10

    123.53

    1124.57

    19

    7110.73

    1248.10

    106.66

    1141.44

    20

    5969.29

    1248.10

    89.54

    1158.56

    21

    4810.73

    1248.10

    72.16

    1175.94

    22

    3634.79

    1248.10

    54.52

    1193.58

    23

    2441.21

    1248.10

    36.62

    1211.48

    24

    1229.73

    1248.10

    18.45

    1229.65

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