Suppose you are buying an $80,000 car , you decide to buy it and get it...

4.1 Ratings (821 Votes)

Amortization table using excel formula

	Beginning Balance= 80000	PMT=3000	Interest part of PMT=11%/12*Beginning Principal	Principal part of PMT= PMT-Interest	Ending Balance= Beginning balance-Principal part of PMT
1.00	80000.00	3000.00	733.33	2266.67	77733.33
2.00	77733.33	3000.00	712.56	2287.44	75445.89
3.00	75445.89	3000.00	691.59	2308.41	73137.48
4.00	73137.48	3000.00	670.43	2329.57	70807.90
5.00	70807.90	3000.00	649.07	2350.93	68456.98
6.00	68456.98	3000.00	627.52	2372.48	66084.50
7.00	66084.50	3000.00	605.77	2394.23	63690.27
8.00	63690.27	3000.00	583.83	2416.17	61274.10
9.00	61274.10	3000.00	561.68	2438.32	58835.78
10.00	58835.78	3000.00	539.33	2460.67	56375.11
11.00	56375.11	3000.00	516.77	2483.23	53891.88
12.00	53891.88	3000.00	494.01	2505.99	51385.89
13.00	51385.89	3000.00	471.04	2528.96	48856.93
14.00	48856.93	3000.00	447.86	2552.14	46304.78
15.00	46304.78	3000.00	424.46	2575.54	43729.24
16.00	43729.24	3000.00	400.85	2599.15	41130.09
17.00	41130.09	3000.00	377.03	2622.97	38507.12
18.00	38507.12	3000.00	352.98	2647.02	35860.10
19.00	35860.10	3000.00	328.72	2671.28	33188.82
20.00	33188.82	3000.00	304.23	2695.77	30493.05
21.00	30493.05	3000.00	279.52	2720.48	27772.57
22.00	27772.57	3000.00	254.58	2745.42	25027.15
23.00	25027.15	3000.00	229.42	2770.58	22256.57
24.00	22256.57	3000.00	204.02	2795.98	19460.58
25.00	19460.58	3000.00	178.39	2821.61	16638.97
26.00	16638.97	3000.00	152.52	2847.48	13791.50
27.00	13791.50	3000.00	126.42	2873.58	10917.92
28.00	10917.92	3000.00	100.08	2899.92	8018.00
29.00	8018.00	3000.00	73.50	2926.50	5091.50
30.00	5091.50	3000.00	46.67	2953.33	2138.17
31.00	2138.17	3000.00	19.60	2980.40	-842.23

Number of months for loan =31

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

Transcribed Image Text