Bank loan calculator excel
[DOC File]Section 2: Financial Mathematics
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A newly-wed couple took out a bank loan in order to purchase furniture for their home. The loan was to be repaid in monthly instalments of R950 over two years. Calculate the present value of these repayments if the nominal annual rate is compounded monthly.
[DOCX File]USING EXCEL FOR PRESENT VALUE CALCULATIONS
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USING EXCEL FOR TIME VALUE OF MONEY CALCULATIONS. Once you get familiar with these functions, you will be able to directly type in the information, but to start, it is easier to let EXCEL lead you lead you by the hand. To use these functions, click on “insert”, “function”, then choose the category “financial”. PV (P. resent . V ...
[DOC File]Car Loan Project - Cory-Rawson
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A completed loan application . Monthly payments for each option calculated by using the monthly payment formula (neatly handwritten). Total cost of the loan for each option (monthly payment multiplied by number of payments-neatly handwritten). Printed copy of an amortization schedule of the loan option that is best for their situation
[DOC File]BALANCE OF PAYMENTS
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Bank A charges 12.2% compounded monthly on its business loans and Bank B charges 12.4% compounded semiannually. As a potential borrower, which bank would you prefer? To solve this problem find the effective annual rate for each bank: where, M= the number of periods per year. Answer: Bank B. You can afford to make car payments of $650 per month.
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