Wednesday, November 18, 2009

Answer to' Amortize this!'

Period
Beg Bal
Debt Service
Interest
Principal
End Bal
1
$300,000.00
$28,367.88
$6,000.00
$22,367.88
$277,632.12
2
$277,632.12
$28,367.88
$5,552.64
$22,815.24
$254,816.88
3
$254,816.88
$28,367.88
$5,096.34
$23,271.54
$231,545.34
4
$231,545.34
$28,367.88
$4,630.91
$23,736.97
$207,808.37
5
$207,808.37
$28,367.88
$4,156.17
$24,211.71
$183,596.66
6
$183,596.66
$28,367.88
$3,671.93
$24,695.95
$158,900.71
7
$158,900.71
$28,367.88
$3,178.01
$25,189.86
$133,710.85
8
$133,710.85
$28,367.88
$2,674.22
$25,693.66
$108,017.19
9
$108,017.19
$28,367.88
$2,160.34
$26,207.54
$81,809.65
10
$81,809.65
$28,367.88
$1,636.19
$26,731.69
$55,077.97
11
$55,077.97
$28,367.88
$1,101.56
$27,266.32
$27,811.65
12
$27,811.65
$28,367.88
$556.23
$27,811.65
$0.00

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