- Must Show Explanation For Each Answer Excel 1 (26.19 KiB) Viewed 24 times
Must show explanation for each answer. (EXCEL)
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answerhappygod
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Must show explanation for each answer. (EXCEL)
Must show explanation for each answer. (EXCEL)
QUESTION 5 Robert has borrowed $339,000 to purchase a house in the current year at 5.5% interest rate, with a commitment to repay the loan (principal and interest) in equal annual instalments over the following 15 years. Calculate the: a) the yearly annuity payment is = $ b) the amount of the principal repayment in year 2 is = $ C) total amount finterest paid = $ d) if the interest rate decreases to 3% the total amount paid over the life of the loan would be = $ Provide your answers to 2 decimal places. Show all your working in your spreadsheet. Clearly indicate the answer to each sub question in your spreadsheet.
QUESTION 5 Robert has borrowed $339,000 to purchase a house in the current year at 5.5% interest rate, with a commitment to repay the loan (principal and interest) in equal annual instalments over the following 15 years. Calculate the: a) the yearly annuity payment is = $ b) the amount of the principal repayment in year 2 is = $ C) total amount finterest paid = $ d) if the interest rate decreases to 3% the total amount paid over the life of the loan would be = $ Provide your answers to 2 decimal places. Show all your working in your spreadsheet. Clearly indicate the answer to each sub question in your spreadsheet.
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