Loan Payment

Interest Rate Schedule

Item
Calculator
House and Lot Monthly Payment Total Cost
Down Payment $ 300,000.00 Interest $ 27,819.25 $ 3,638,310.53
Price $ 2,750,000.00 3.50%
Years 10 3.75%
Interest Rate 6.50% 4.00%
Loan Amount $ 2,450,000.00 4.25%
Monthly Payment $ 27,819.25 4.50%
4.75%
5.00%
TASKS: 5.25%
Rename Cells C3 to C9 5.50%
Solve for Loan Amount 5.75%
Solve for Monthly Payment 6.00%
Do a What-If Analysis Data Table 6.25%
Complete the Amortization Table 6.50%
6.75%
7.00%
Schedule
Total Interest Year
$ 888,310.53 1 $
$ 457,244.50 2 $
$ 491,800.55 3 $
$ 526,607.06 4 $
$ 561,663.48 5 $
$ 596,969.22 6 $
$ 632,523.66 7 $
$ 668,326.15 8 $
$ 704,376.02 9 $
$ 740,672.57 10 $ 322,368.59
$ 777,215.07
$ 814,002.76
$ 851,034.85
$ 888,310.53
$ 925,828.97
$ 963,589.29
Amortization Table
Beginning balance Ending balance Paid on principal
2,450,000.00 $ 2,270,122.82 $ 179,877.18
2,270,122.82 $ 2,078,198.94 $ 191,923.88
2,078,198.94 $ 1,873,421.56 $ 204,777.38
1,873,421.56 $ 1,654,929.86 $ 218,491.70
1,654,929.86 $ 1,421,805.36 $ 233,124.50
1,421,805.36 $ 1,173,068.09 $ 248,737.28
1,173,068.09 $ 907,672.41 $ 265,395.67
907,672.41 $ 624,502.70 $ 283,169.71
624,502.70 $ 322,368.59 $ 302,134.11
$ - $ 322,368.59
subtotal $ 2,450,000.00
downpayment
total cost
 Interest paid
$ 153,953.88
$ 141,907.17
$ 129,053.67
$ 115,339.35
$ 100,706.56
$ 85,093.78
$ 68,435.38
$ 50,661.34
$ 31,696.94
$ 11,462.46
$ 888,310.53
$ 300,000.00
$ 3,638,310.53