Loan Schedule 2
Let’s assume that we can afford to pay off more than the minimum amount of
$1264.14 each month. Assume that we can afford to pay $2000.00 per month.
Return to the initial Compound Interest Screen and change the payment to
PMT= -2000, which is $2000.00 per month. Now press n (F1) (number of
months).
Now, continue to the Amortisation module and perform identical operations as per
Loan Schedule 1 and complete the following table.
(installment 1 /
year1)
Loan Schedule 1 Loan Schedule 2
PMT 1264.14
INT
PRN
ΣINT
ΣPRN
BAL
Trace cash flow
curve
Interest / Principal Interest / Principal
N = 13
N = 25
N = 61
N = 121
N = 144
N.B: Notice that PMT = INT + PRN
200,000 = ΣPRN + BAL
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