Excel assignment 2

NewTruck

Borrowed 15,000.00$ Cost of Borrowing Years 3 Total Interest APR 4.90% 997.61$

Payment $448.89

Payment # Payment Date

Payment Amount Interest Extra Paid Balance Total Paid

$ 15,000.00 1 January 1, 2016 448.89$ 61.25$ 14,612.36$ 448.89$ 2 February 1, 2016 448.89$ 59.67$ 14,223.14$ 897.78$ 3 March 1, 2016 448.89$ 58.08$ 13,832.32$ 1,346.67$ 4 April 1, 2016 448.89$ 56.48$ 13,439.92$ 1,795.56$ 5 May 1, 2016 448.89$ 54.88$ 13,045.91$ 2,244.45$ 6 June 1, 2016 448.89$ 53.27$ 500.00$ 12,150.29$ 3,193.34$ 7 July 1, 2016 448.89$ 49.61$ 11,751.01$ 3,642.23$ 8 August 1, 2016 448.89$ 47.98$ 11,350.10$ 4,091.12$ 9 September 1, 2016 448.89$ 46.35$ 10,947.56$ 4,540.01$ 10 October 1, 2016 448.89$ 44.70$ 10,543.37$ 4,988.90$ 11 November 1, 2016 448.89$ 43.05$ 10,137.53$ 5,437.79$ 12 December 1, 2016 448.89$ 41.39$ 500.00$ 9,230.04$ 6,386.68$ 13 January 1, 2017 448.89$ 37.69$ 8,818.84$ 6,835.57$ 14 February 1, 2017 448.89$ 36.01$ 8,405.96$ 7,284.46$ 15 March 1, 2017 448.89$ 34.32$ 7,991.39$ 7,733.35$ 16 April 1, 2017 448.89$ 32.63$ 7,575.13$ 8,182.24$ 17 May 1, 2017 448.89$ 30.93$ 7,157.17$ 8,631.14$ 18 June 1, 2017 448.89$ 29.23$ 500.00$ 6,237.51$ 9,580.03$ 19 July 1, 2017 448.89$ 25.47$ 5,814.09$ 10,028.92$ 20 August 1, 2017 448.89$ 23.74$ 5,388.94$ 10,477.81$ 21 September 1, 2017 448.89$ 22.00$ 4,962.05$ 10,926.70$ 22 October 1, 2017 448.89$ 20.26$ 4,533.42$ 11,375.59$ 23 November 1, 2017 448.89$ 18.51$ 4,103.04$ 11,824.48$ 24 December 1, 2017 448.89$ 16.75$ 500.00$ 3,170.91$ 12,773.37$ 25 January 1, 2018 448.89$ 12.95$ 2,734.97$ 13,222.26$

Truck Loan

1 8/30/2016SO LU

TI O

N

SA M

PL E

NewTruck

Payment # Payment Date

Payment Amount Interest Extra Paid Balance Total Paid

26 February 1, 2018 448.89$ 11.17$ 2,297.24$ 13,671.15$ 27 March 1, 2018 448.89$ 9.38$ 1,857.73$ 14,120.04$ 28 April 1, 2018 448.89$ 7.59$ 1,416.43$ 14,568.93$ 29 May 1, 2018 448.89$ 5.78$ 973.32$ 15,017.82$ 30 June 1, 2018 448.89$ 3.97$ 528.41$ 15,466.71$ 31 July 1, 2018 448.89$ 2.16$ 81.67$ 15,915.60$ 32 August 1, 2018 82.01$ 0.33$ 0.00$ 15,997.61$

2 8/30/2016SO LU

TI O

N

SA M

PL E

Option2

Borrowed 12,000.00$ Cost of Borrowing Years 3 Total Interest APR 3.50% 547.42$

Payment $351.62

Payment # Payment Date

Payment Amount Interest Extra Paid Balance Total Paid

$ 12,000.00 1 January 1, 2016 351.62$ 35.00$ 11,683.38$ 351.62$ 2 February 1, 2016 351.62$ 34.08$ 11,365.83$ 703.25$ 3 March 1, 2016 351.62$ 33.15$ 11,047.35$ 1,054.87$ 4 April 1, 2016 351.62$ 32.22$ 10,727.95$ 1,406.50$ 5 May 1, 2016 351.62$ 31.29$ 10,407.61$ 1,758.12$ 6 June 1, 2016 351.62$ 30.36$ 500.00$ 9,586.34$ 2,609.75$ 7 July 1, 2016 351.62$ 27.96$ 9,262.68$ 2,961.37$ 8 August 1, 2016 351.62$ 27.02$ 8,938.07$ 3,313.00$ 9 September 1, 2016 351.62$ 26.07$ 8,612.51$ 3,664.62$ 10 October 1, 2016 351.62$ 25.12$ 8,286.01$ 4,016.25$ 11 November 1, 2016 351.62$ 24.17$ 7,958.55$ 4,367.87$ 12 December 1, 2016 351.62$ 23.21$ 500.00$ 7,130.14$ 5,219.50$ 13 January 1, 2017 351.62$ 20.80$ 6,799.31$ 5,571.12$ 14 February 1, 2017 351.62$ 19.83$ 6,467.52$ 5,922.75$ 15 March 1, 2017 351.62$ 18.86$ 6,134.76$ 6,274.37$ 16 April 1, 2017 351.62$ 17.89$ 5,801.02$ 6,626.00$ 17 May 1, 2017 351.62$ 16.92$ 5,466.32$ 6,977.62$ 18 June 1, 2017 351.62$ 15.94$ 500.00$ 4,630.64$ 7,829.25$ 19 July 1, 2017 351.62$ 13.51$ 4,292.52$ 8,180.87$ 20 August 1, 2017 351.62$ 12.52$ 3,953.41$ 8,532.50$ 21 September 1, 2017 351.62$ 11.53$ 3,613.32$ 8,884.12$ 22 October 1, 2017 351.62$ 10.54$ 3,272.23$ 9,235.75$ 23 November 1, 2017 351.62$ 9.54$ 2,930.15$ 9,587.37$ 24 December 1, 2017 351.62$ 8.55$ 500.00$ 2,087.07$ 10,439.00$ 25 January 1, 2018 351.62$ 6.09$ 1,741.54$ 10,790.62$ 26 February 1, 2018 351.62$ 5.08$ 1,394.99$ 11,142.25$ 27 March 1, 2018 351.62$ 4.07$ 1,047.43$ 11,493.87$ 28 April 1, 2018 351.62$ 3.06$ 698.86$ 11,845.50$ 29 May 1, 2018 351.62$ 2.04$ 349.28$ 12,197.12$ 30 June 1, 2018 350.30$ 1.02$ 0.00$ 12,547.42$

Truck Loan

3 8/30/2016SO LU

TI O

N

SA M

PL E