Cost to Pay Back $100,000 With Varying Interest Rates
Years in Repayment Interest Paid
Interest 30 15 Difference 30 Years
Amount Borrowed $100,000
Starting Interest 5.00%
Assumptions
30
Years to Pay
15
Financial Consultant Today's Date
Notes: The PMT function takes three argurments:
1. interest rate / 12
2. years x 12
3. principal (preceded by a minus sign)
0 With Varying Interest Rates
Interest Paid Total Pay Back Cost
15 Years 30 Years 15 Years Difference