Purchase Solution

Loan amortization schedule and total interest calculation.

Not what you're looking for?

Ask Custom Question

Prepare an amortization schedule for a 3-year loan of $40,000. The interest rate is 11 percent per year and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan?

Purchase this Solution
Solution Summary

In this solution I have provided an excel sheet with embedded formulas. I have shown loan amortization schedule for a three year loan with equal installments. I have also calculated the interest paid in the last year as well as the total interest paid. A good example of how loan amortization works.

Purchase this Solution
Free BrainMass Quizzes
Business Processes

This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.

Team Development Strategies

This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

Balance Sheet

The Fundamental Classified Balance Sheet. What to know to make it easy.

Change and Resistance within Organizations

This quiz intended to help students understand change and resistance in organizations

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

View More Free Quizzes
Related BrainMass Solutions

  • House purchase: compute settlement statement, amortization

    Set up an amortization schedule listing the monthly payments, the interest paid, the principal paid, and the loan balance for the entire 360 month period. I used bankrate.com, which I am allowed to do.

  • 3 Amortization Schedules

    Prepare a loan amortization schedule in US $ Amortization Schedule loan amortization schedule in US $ G = E * F Period US$ Principal Balance Principal Payments Interest at 6.75% per year Total Payments Discount Rate = 6.75% Actual

  • Loan amortization schedule

    Calculate the annual, end-of-year loan payment. b. Prepare a loan amortization schedule showing the interest and principal breakdown of each of the three loan payments. c.

  • Loan Amortization Schedule and Determining Interest Rate

    275491 Loan Amortization Schedule and Determining Interest Rate What is a loan amortization schedule? How would you use it to determine your loan interest rate? What factors would affect your choice between two loans?

  • How to Prepare an Amortization Schedule

    Prepare an amortization schedule for the loan: Payment Payment to Payment to Total Paid to Total Paid to Left to Amount Interest Principle Interest Principle Pay $10,000.00 Year 1 $4,235.22

  • Time Value of Money: Loan Amortization Schedule

    It also constructs a loan amortization schedule.

  • Java & HTML Introduction Applet

    This information would be followed by the amortization schedule. Following is an example of the expected output for a $20,000 loan over 5 years at 1% interest rate.

  • Preparing Amortization schedule for a loan

    201378 Liz Rog: Loan Interest Deduction and amortization schedule. Liz Rog just closed a $10,000 business loan that is to be reapid in three equal, annual, end-of-year payments. The interest rate on the loan is 13%.

  • Car Buying Comparison

    Create and format a data table that includes the interest rate schedule. Create and format the amortization schedule using the present value and future value functions. Sheet 2: Car 2 Create and format a Loan Payment Calculator section.

View More Related Solutions