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ass._7_spreadsheet_applications.xlsRichie's Subprime
| Richie's Subprime | |||||
| Minimal Down Payment Is Our Goal | |||||
| Price | $75,000.00 | Rate | 9.75% | ||
| Down Payment | $4,500.00 | Years | 15.0 | ||
| Financing Amount | $70,500.00 | Monthly Payment | $746.85 | ||
| Year | Beginning Balance | Ending Balance | Paid On Principal | Interest Paid | |
| 1 | $70,500.00 | $68,315.64 | $2,184.36 | $6,777.85 | |
| 2 | $68,315.64 | $65,908.52 | $2,407.12 | $6,555.09 | |
| 3 | $65,908.52 | $63,255.94 | $2,652.59 | $6,309.62 | |
| 4 | $63,255.94 | $60,332.85 | $2,923.09 | $6,039.12 | |
| 5 | $60,332.85 | $57,111.67 | $3,221.18 | $5,741.03 | |
| 6 | $57,111.67 | $53,562.00 | $3,549.67 | $5,412.54 | |
| 7 | $53,562.00 | $49,650.35 | $3,911.65 | $5,050.56 | |
| 8 | $49,650.35 | $45,339.80 | $4,310.55 | $4,651.66 | |
| 9 | $45,339.80 | $40,589.68 | $4,750.13 | $4,212.08 | |
| 10 | $40,589.68 | $35,355.14 | $5,234.53 | $3,727.68 | |
| 11 | $35,355.14 | $29,586.81 | $5,768.34 | $3,193.87 | |
| 12 | $29,586.81 | $23,230.23 | $6,356.57 | $2,605.63 | |
| 13 | $23,230.23 | $16,225.43 | $7,004.80 | $1,957.41 | |
| 14 | $16,225.43 | $8,506.31 | $7,719.13 | $1,243.08 | |
| 15 | $8,506.31 | $0.00 | $8,506.31 | $455.90 | |
| Subtotal | $70,500.00 | $63,933.12 | |||
| Down Payment | $4,500.00 | ||||
| Total Cost | $138,933.12 |
&C&A
&CPage &P
Term
| Data File Date: |
| 1/30/13 |
| Term: |
| 1301A |
