A company has a loan of $100,000 to be repaid with 30 annual end-of-year payment
ID: 2462143 • Letter: A
Question
A company has a loan of $100,000 to be repaid with 30 annual end-of-year payments. The principal and the interest in the 21st payment are the same. Find the principal repaid in the 10th payment.
A company has a loan of $100,000 to be repaid with 30 annual end-of-year payments. The principal and the interest in the 21st payment are the same. Find the principal repaid in the 10th payment.
A company has a loan of $100,000 to be repaid with 30 annual end-of-year payments. The principal and the interest in the 21st payment are the same. Find the principal repaid in the 10th payment.
A company has a loan of $100,000 to be repaid with 30 annual end-of-year payments. The principal and the interest in the 21st payment are the same. Find the principal repaid in the 10th payment.
Explanation / Answer
The principale at 21 st payment is same taht is $ 4,101
The prinicpal repaid in 10th payment is $ 1,913
Enter Values Loan Summary Loan Amount $ 100,000.00 Scheduled Payment $ 8,202.40 Annual Interest Rate 7.177% Scheduled Number of Payments 30 Loan Period in Years 30 Actual Number of Payments 30 Number of Payments Per Year 1 Total Early Payments $ - Start Date of Loan 01/01/2016 Total Interest $ 146,071.98 Optional Extra Payments $ - Lender Name: PmtNo. Payment Date Beginning Balance Scheduled Payment Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest 1 01/01/2017 $ 100,000 $ 8,202 $ - $ 8,202 $ 1,025 $ 7,177 $ 98,975 $ 7,177 2 01/01/2018 $ 98,975 $ 8,202 $ - $ 8,202 $ 1,099 $ 7,103 $ 97,876 $ 14,280 3 01/01/2019 $ 97,876 $ 8,202 $ - $ 8,202 $ 1,178 $ 7,025 $ 96,698 $ 21,305 4 01/01/2020 $ 96,698 $ 8,202 $ - $ 8,202 $ 1,262 $ 6,940 $ 95,435 $ 28,245 5 01/01/2021 $ 95,435 $ 8,202 $ - $ 8,202 $ 1,353 $ 6,849 $ 94,082 $ 35,094 6 01/01/2022 $ 94,082 $ 8,202 $ - $ 8,202 $ 1,450 $ 6,752 $ 92,632 $ 41,847 7 01/01/2023 $ 92,632 $ 8,202 $ - $ 8,202 $ 1,554 $ 6,648 $ 91,078 $ 48,495 8 01/01/2024 $ 91,078 $ 8,202 $ - $ 8,202 $ 1,666 $ 6,537 $ 89,412 $ 55,032 9 01/01/2025 $ 89,412 $ 8,202 $ - $ 8,202 $ 1,785 $ 6,417 $ 87,627 $ 61,449 10 01/01/2026 $ 87,627 $ 8,202 $ - $ 8,202 $ 1,913 $ 6,289 $ 85,714 $ 67,738 11 01/01/2027 $ 85,714 $ 8,202 $ - $ 8,202 $ 2,051 $ 6,152 $ 83,663 $ 73,889 12 01/01/2028 $ 83,663 $ 8,202 $ - $ 8,202 $ 2,198 $ 6,004 $ 81,465 $ 79,894 13 01/01/2029 $ 81,465 $ 8,202 $ - $ 8,202 $ 2,356 $ 5,847 $ 79,109 $ 85,741 14 01/01/2030 $ 79,109 $ 8,202 $ - $ 8,202 $ 2,525 $ 5,678 $ 76,585 $ 91,418 15 01/01/2031 $ 76,585 $ 8,202 $ - $ 8,202 $ 2,706 $ 5,496 $ 73,879 $ 96,915 16 01/01/2032 $ 73,879 $ 8,202 $ - $ 8,202 $ 2,900 $ 5,302 $ 70,979 $ 102,217 17 01/01/2033 $ 70,979 $ 8,202 $ - $ 8,202 $ 3,108 $ 5,094 $ 67,870 $ 107,311 18 01/01/2034 $ 67,870 $ 8,202 $ - $ 8,202 $ 3,331 $ 4,871 $ 64,539 $ 112,182 19 01/01/2035 $ 64,539 $ 8,202 $ - $ 8,202 $ 3,570 $ 4,632 $ 60,968 $ 116,814 20 01/01/2036 $ 60,968 $ 8,202 $ - $ 8,202 $ 3,827 $ 4,376 $ 57,142 $ 121,190 21 01/01/2037 $ 57,142 $ 8,202 $ - $ 8,202 $ 4,101 $ 4,101 $ 53,040 $ 125,291 22 01/01/2038 $ 53,040 $ 8,202 $ - $ 8,202 $ 4,396 $ 3,807 $ 48,645 $ 129,098 23 01/01/2039 $ 48,645 $ 8,202 $ - $ 8,202 $ 4,711 $ 3,491 $ 43,934 $ 132,589 24 01/01/2040 $ 43,934 $ 8,202 $ - $ 8,202 $ 5,049 $ 3,153 $ 38,884 $ 135,742 25 01/01/2041 $ 38,884 $ 8,202 $ - $ 8,202 $ 5,412 $ 2,791 $ 33,473 $ 138,533 26 01/01/2042 $ 33,473 $ 8,202 $ - $ 8,202 $ 5,800 $ 2,402 $ 27,673 $ 140,935 27 01/01/2043 $ 27,673 $ 8,202 $ - $ 8,202 $ 6,216 $ 1,986 $ 21,456 $ 142,921 28 01/01/2044 $ 21,456 $ 8,202 $ - $ 8,202 $ 6,662 $ 1,540 $ 14,794 $ 144,461 29 01/01/2045 $ 14,794 $ 8,202 $ - $ 8,202 $ 7,141 $ 1,062 $ 7,653 $ 145,523 30 01/01/2046 $ 7,653 $ 8,202 $ - $ 7,653 $ 7,104 $ 549 $ - $ 146,072Related Questions
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