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You borrowed an X amount of money from a local bank to be repaid over N months at aninterest rate i (assume your own numbers for X, i, N). (a) Create a table (using Excel) showing each month's interest in $ (1), principal repayment,and amount of principal remaining at the end of each month. (b) Suppose that you decided to pay out the remaining principal all at once after few monthly payments (< N), how much will you pay? Use the P/A relationship to answer this part and compare to the numbers in the table.

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