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Amortization Schedule

There are seven years remaining on a ten year car loan. The interest rate is 10.25%. The monthly payments are $450.00. The credit union is willing to accept the present value of the loan as a pay off. develop an amortization schedule Using excel that shows how much will need to be paid at the end of each of the ten years. design and create a worksheet that contains both the beginning and ending balance, the amount paid on the principal, and the interest paid for years 4-10 because the first three years have already been paid. Determine only the ending value for year three.

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amortization Schedule
I really do not seem to be able to get this to work. I know that the problem is in the formulas but can not seem to get them. Please help!

There are seven years remaining on a ten year car loan. The interest rate is 10.25%. The monthly payments are $450.00. The credit union is willing to accept the present value of ...

Solution Summary

This solution is comprised of a detailed explanation to determine only the ending value for year three.

$2.19