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					                   Receive $1 today or $1 one year from now?
                                                  Annual
                                                  Simple       Which do you
                 Today Value     Value in 1 year Interest Rate prefer?
Receive $1
today                                                     10%

Receive $1 one
year from now

                 PV               FV


                 You can think of You can think of
                 PV as taking     FV as adding
                 interest "OUT". interest "IN".
                                                                     Interest




1)                                      Interest is like rent on money
                If you put money in the bank, you would like to know what it is worth with
                    all the interest added in on some future date. This amount is called
2)                                              Future Value.
                    =FV(rate = period rate, nper = total number of periods, pmt means
                   periodic payment, pv means amount invested or lent out today, type
                refers to the PMT: PMT at end of period = 0, PMT at beginning of period
3)                                                     = 1)
                 Cash Flow matters in Finance. Cash going out of the wallet is negative.
4)                                  Cash coming into the wallet is positive.
                   For the borrow the PV is positive, the PMT is negative, and the FV is
                  negative. For the Lender the PV is negative, the PMT is positive, and
5)                                            the FV is positive.

            1                                 Simple Interest:
                Principal (Amount loaned or amount still owed) = Present
                Value = PV =                                                     $ 100.00
                Interest Rate for one year                                           10%
                Interest Paid =
                Total of Interest and Principal = Future Value = FV =
                Total of Interest and Principal =                                $ 110.00

            2                             Compound Interest
                Principal (Amount loaned or amount still owed) = Present
                Value = PV =                                                     $ 100.00

                Interest Rate for one year, Compounded Monthly (This
                means that at the end of each month they calculate the
                interest owed to you, deposit it in the account, and then next
                month they pay you interest on the original principal and the
                interest added to the account (interest on interest)                10.0%
                Number of months in one year =                                         12
                Monthly Interest Rate = 10.00%/12 =                                           0.008333
                Beg Balance                                                       100.00     $ 100.00
                1st month's Interest deposited into the account =
1st month       $100.00*0.00833 =                                                                0.83
                New Balance in the account after the interest is deposited
                $100.00 + $0.83                                                                100.83
                2nd month's Interest deposited into the account =
2nd month       $100.83*0.00833 =                                                                0.84
                New Balance in the account after the interest is deposited
                $100.83 + $0.84                                                                101.67
                3rd month's Interest deposited into the account =
3rd month       $101.67*0.00833 =                                                                0.85
                New Balance in the account after the interest is deposited
                $101.67 + $0.85                                                                102.52
                4th month's Interest deposited into the account =
4th month       $102.52*0.00833 =                                                                0.85
                New Balance in the account after the interest is deposited
                $102.52 + $0.85                                                                103.38
                5th month's Interest deposited into the account =
5th month       $103.38*0.00833 =                                                                0.86
                New Balance in the account after the interest is deposited
                $103.38 + $0.86                                                                104.24
                6th month's Interest deposited into the account =
6th month       $104.24*0.00833 =                                                                0.87
                New Balance in the account after the interest is deposited
                $104.24 + $0.87                                                                105.11
                7th month's Interest deposited into the account =
7th month       $105.11*0.00833 =                                                                0.88
                New Balance in the account after the interest is deposited
                $105.11 + $0.88                                                                105.98
                8th month's Interest deposited into the account =
8th month       $105.98*0.00833 =                                                                0.88
                New Balance in the account after the interest is deposited
                $105.98 + $0.88                                                                106.86
                9th month's Interest deposited into the account =
9th month       $106.86*0.00833 =                                                                0.89
                New Balance in the account after the interest is deposited
                $106.86 + $0.89                                                                107.75
                10th month's Interest deposited into the account =
10th month      $107.75*0.00833 =                                                                0.90
                New Balance in the account after the interest is deposited
                $107.75 + $0.90                                                                108.65
                11th month's Interest deposited into the account =
11th month      $108.65*0.00833 =                                                                0.91
                New Balance in the account after the interest is deposited
                $108.65 + $0.91                                                                109.56
                12th month's Interest deposited into the account =
12th month      $109.56*0.00833 =                                                                0.91
                New Balance in the account after the interest is deposited
                $109.56 + $0.91                                                                110.47

              Interest Paid =                                                      10.47
              Interest Paid =                                                                   10.47
              Total of Interest and Principal = Future Value = FV =               110.47
              Total of Interest and Principal = Future Value = FV =                            110.47
            3 Total of Interest and Principal = Future Value = FV =                           $110.47
1)                            PMT means periodic payment (same amount each period)
   PMT function calculates the period payment for a loan (For the Borrower or the Lender). The Amount of each PMT
2)                      must be the same and the time between each PMT must be the same.

3)  Cash Flow matters in Finance. Cash going out of the wallet is negative. Cash coming into the wallet is positive.
   For the borrow the PV is positive, the PMT is negative, and the FV is negative. For the Lender the PV is negative,
4)                                      the PMT is positive, and the FV is positive.
    Be consistent with your unit of time! If you are calculating monthly payment, you need monthly interest rate and
5)             total number of months! (The period can be monthly, quarterly, yearly or any other length).
    =PMT(rate = period rate, nper = total number of periods, pv means amount invested or lent out today, fv means
   amount received after all the periods have elapsed or amount paid after all the periods have elapsed, type refers
6)                      to the PMT: PMT at end of period = 0, PMT at beginning of period = 1)

      =FV(rate = period rate, nper = total number of periods, pmt means periodic payment, pv means amount invested
7)          or lent out today, type refers to the PMT: PMT at end of period = 0, PMT at beginning of period = 1)


 1 Borrower Point of View: At an Annual Interest Rate of 4.80% the monthly PMT paid = $0.00
   Price of Car                           $34,799.00 Annual Interest Rate            4.80%
   Down Payment                           $10,000.00 Monthly Interest Rate
   Loan Amount                                        Years for Loan                      5
     Monthly Payment                                        Total Months
     Monthly Payment                                     0 Periods per Year                       12

       Lender Point of view: At an Annual Interest Rate of 4.80% the monthly PMT received =
 2                                             $0.00
     Price of Car                             $34,799.00 Annual Interest Rate                 4.80%
     Down Payment                             $10,000.00 Monthly Interest Rate                0.40%
     Loan Amount                              $24,799.00 Years for Loan                            5
     Monthly Payment                                        Total Months                          60
     Monthly Payment                         465.7188221 Periods per Year                         12

      At an Annual Interest Rate of 5.25% and a balloon payment of $5,000.00 at the end of 36
 3              months, the monthly PMT = ($1,225.21) - Borrower's Point of View.
     Price of Car                             $50,000.00    Annual Interest Rate              5.25%
     Down Payment                              $5,000.00    Monthly Interest Rate             0.44%
     Loan Amount                              $45,000.00    Years for Loan                         3
     Balloon Payment                          ($5,000.00)   Total Months                          36
     Monthly Payment                                        Periods per Year                      12

       At an Annual Interest Rate of 8.50% and no payments during the first year, the monthly
 4                         PMT = ($67,328.25) - Borrower's Point of View.
     Loan Amount                           $1,000,000.00 Annual Interest Rate                 8.50%
     Years payment is put off                           1 Period Interest Rate                2.13%
     FV after 1 year                                      Years for Loan                           6
     Period Payment                                       Total Periods                           24
     Period Payment                          ($67,328.25) Periods per Year                         4
d)
er). The Amount of each PMT
e same.

ng into the wallet is positive.
 e Lender the PV is negative,

ed monthly interest rate and
any other length).
d or lent out today, fv means
ds have elapsed, type refers
 od = 1)

 , pv means amount invested
 ginning of period = 1)




                                  check   1087748
       =RATE(nper = total number of periods, pmt means periodic payment, pv
    means amount invested or lent out today, fv means amount received after all
     the periods have elapsed or amount paid after all the periods have elapsed,
1) type refers to the pmt: pmt at end of period = 0, pmt at beginning of period = 1)
   Be consistent with your unit of time! If you are calculating monthly payment, you
      need monthly interest rate and total number of months! (The period can be
2)                   monthly, quarterly, yearly or any other length).
3)                   Remember, RATE returns the period rate!!!!!!
      Cash Flow matters in Finance. Cash going out of the wallet is negative. Cash coming
4)                                into the wallet is positive.

     For the borrow the PV is positive, the PMT is negative, and the FV is negative.
5)   For the Lender the PV is negative, the PMT is positive, and the FV is positive.

       If you pay points, then you do not get to use all the cash you borrowed.
      Therefore, the Rate is really based on the cash you receive, not the face
                                   value of the loan.
     Item   House       Annual Rate                                            5.00%
     Price   $200,000 Monthly Rate                                            .00417
     Down           $0 Years                                                       15
     Loan    $200,000 Months                                                      180
     Points        0.02 Periods Per Year                                           12
     PMT      -1,581.59 Type (0 = End, 1 = Begin)                                   0
                        Adjusted Percentage Rate
0.053081
    Effective Interest Rate is always higher than APR or Nominal Rate when the compounding periods per year are
1)                          greater than . Why? Because you are earning interest on interest.
   =EFFECT(nominal_rate means APR or Nominal Rate (APR = NOMINAL RATE = period interest rate * number of
2)             compounding periods in 1 year), npery means "number of compounding periods in 1 year")

3)  Cash Flow matters in Finance. Cash going out of the wallet is negative. Cash coming into the wallet is positive.
   For the borrow the PV is positive, the PMT is negative, and the FV is negative. For the Lender the PV is negative,
4)                                      the PMT is positive, and the FV is positive.

   Annual Interest Rate =
 1 APR = Nominal Rate                               0.085
   Period Rate
   Periods per Year                                    12
   Effective Annual Rate
   Effective Annual Rate
 unding periods per year are
erest.
 riod interest rate * number of
periods in 1 year")

ng into the wallet is positive.
 e Lender the PV is negative,
                                                   436d3323-57aa-42d7-a882-3499f31f3188.xls - Loan Analysis


1)                                                   PMT means periodic payment (same amount each period)
      PMT function calculates the period payment for a loan (For the Borrower or the Lender). The Amount of each PMT must be the same and the time between
2)                                                                  each PMT must be the same.
3)                         Cash Flow matters in Finance. Cash going out of the wallet is negative. Cash coming into the wallet is positive.

4) For the borrow the PV is positive, the PMT is negative, and the FV is negative. For the Lender the PV is negative, the PMT is positive, and the FV is positive.
    Be consistent with your unit of time! If you are calculating monthly payment, you need monthly interest rate and total number of months! (The period can be
5)                                                            monthly, quarterly, yearly or any other length).

      =PMT(rate = period rate, nper = total number of periods, pv means amount invested or lent out today, fv means amount received after all the periods have
6)        elapsed or amount paid after all the periods have elapsed, type refers to the PMT: PMT at end of period = 0, PMT at beginning of period = 1)

       =RATE(nper = total number of periods, pmt means periodic payment, pv means amount invested or lent out today, fv means amount received after all the
7)      periods have elapsed or amount paid after all the periods have elapsed, type refers to the pmt: pmt at end of period = 0, pmt at beginning of period = 1)

                                                                          Debt Analysis
                        % Down                                                        Amount to         Monthly       Actual Cash      Adjusted       PMT w
      Option#           Payment       APR     Years        Points       Extra Fee      Borrow           Payment        Received          APR          Balloon
                1            5.0%       8.50%    30                 1          400
                2           15.0%       8.25%    30                 3          400
                3            4.5%       8.90%    30                 1          450
                4           12.0%       9.00%    30                 2          100
                5           15.0%       8.50%    30                 2          125
                6           20.0%       8.00%    15                 0          500
                7           15.0%       7.60%    15                 1          750

     Price          $ 430,000.00
     Compoun
     ding
     Periods
     per year                  12
     Balloon
     Payment
     (Optional)     $   (50,000.00)




                                                                            Page 9 of 54
        APR = Annual Percentage Rate = NOMINAL RATE = period interest rate * number of
1)          compounding periods in 1 year. This is the rate usually calculated by the bank.
     Effective Interest Rate is always higher than APR or Nominal Rate when the compounding
    periods per year are greater than . Why? Because you are earning interest on interest - The
   Effective Interest Rate tells you in percentage terms what the rate really is (You could multiply it
2)                            plus 1 by the principal and get Future Value)

3)     =EFFECT(APR or Nominal Rate, npery means "number of compounding periods in 1 year")

4) =NOMINAL(Effective Interest Rate), npery means "number of compounding periods in 1 year")
   =FV(rate = period rate, nper = total number of periods, pmt means periodic payment, pv means
     amount invested or lent out today, type refers to the PMT: PMT at end of period = 0, PMT at
5)                                      beginning of period = 1)
    Cash Flow matters in Finance. Cash going out of the wallet is negative. Cash coming into the
6)                                          wallet is positive.
   For the borrow the PV is positive, the PMT is negative, and the FV is negative. For the Lender
7)                  the PV is negative, the PMT is positive, and the FV is positive.
   Be consistent with your unit of time! If you are calculating monthly payment, you need monthly
    interest rate and total number of months! (The period can be monthly, quarterly, yearly or any
8)                                            other length).

    Savings Plan that compounds interest 365 times a year, but you put money in 12
1                                     times a year.
  Monthly PMT =                                        -250
  x = years                                              25
  n for account is =                                    365
  APR = i =                                            0.08
  Type= 0 or 1 ==>                                        0
                                                                         check
  Solve for EAR first =                                                  0.0832776
  n for PMT =                                            12
  Then from EAR, find APR (i) ==>
  Then from APR (i), find period Rate ==>
  Solve for Future Value =




2                                 MoneyTreeLoaning will:
      Allow you to write a check that has a date 25 days in the future for $250 and will
                      give you $200 today (they cash check in 25 days).
                                 What is the APR and EAR?
     Days in Future =                                        25
     Check Amount =                                         250               FV
     You get Today =                                        200               PV
     25 day rate is =
     Days in Year =                                         365
# of 25 day periods in 1 year =
APR =
EAR =                                       <== correct because math formula does not truncate to an inte

EAR =                                       <== Incorrect because the EFFECT function truncates npery to a


Excel Help:
  Npery is truncated to an integer.
  If either argument is nonnumeric, EFFECT returns the #VALUE! error value.
  If nominal_rate ≤ 0 or if npery < 1, EFFECT returns the #NUM! error value.
  EFFECT is calculated as follows:
does not truncate to an integer

unction truncates npery to an integer
     NPER function calculates the = total number of periods = Years*Number of
       compounding periods per year. Example 30 year loan compounded 12
1)                  times a year ==> 12*30 = 360 = Total periods.
         =NPER(rate = period Rate, pmt means periodic payment, pv means
      amount invested or lent out today, fv means amount received after all the
       periods have elapsed or amount paid after all the periods have elapsed,
     type refers to the pmt: pmt at end of period = 0, pmt at beginning of period
2)                                        = 1)
     Be consistent with your unit of time! If you are calculating monthly payment,
       you need monthly interest rate and total number of months! (The period
3)              can be monthly, quarterly, yearly or any other length).
       Cash Flow matters in Finance. Cash going out of the wallet is negative.
4)                      Cash coming into the wallet is positive.
        For the borrow the PV is positive, the PMT is negative, and the FV is
      negative. For the Lender the PV is negative, the PMT is positive, and the
5)                                   FV is positive.


      How long to pay off your credit Card if you pay only the
                    minimum PMT required?
     Balance = PV =                 2,000.00
     APR = i =                        18.00%               Type
     n=                                    12                       0
     Minimum Monthly PMT =              41.00
     n*x = NPER function =
     x = n*x/n = years
     Words:
                        436d3323-57aa-42d7-a882-3499f31f3188.xls - SLN & DB


      SLN is a built-in function that calculates Straight Line Depreciation. For Financial Accounting, the
     Depreciation Method should match the expense to the pattern of cash flows generated by the asset.
1)                SLN is for assets that generate even cash flows over the life of the asset.

       DBB is a built-in function that calculates Double Declining Balance Depreciation. For Financial
   Accounting, the Depreciation Method should match the expense to the pattern of cash flows generated
2)   by the asset. DB is for assets that generate more cash flows in the earlier years of the asset's life.

                    Depreciation Calculation
   Asset Value:                  $                        170,000
   Salvage Value:                $                          5,000
   Life:                                                        20
 1 Straight Line Depreciation:


 2 Rate for DDB =                                                2
   Year:                                         DDB
                                 1
                                 2
                                 3
                                 4
                                 5
                                 6
                                 7
                                 8
                                 9
                                10
                                11
                                12
                                13
                                14
                                15
                                16
                                17
                                18
                                19
                                20



                                              Page 15 of 54
   Preset Value = How much future cash flows are worth today. Think of it as interest going backwards; if we put money in the
    some future value amount in the future: Present Value is the Opposite! We want to receive some cash amounts in the futu
1)                                                                             bank today?

      PV function calculates present Value when the cash flows are the same and are separated by regular time periods. NPV fu
2)       when the amounts are not the same. XNPV function lets us calculate the present value when the amounts are not the s
                                                                                       When an asset has an annuity cash flo
                                                                                            Capital Investment Decision. An ann
3)                                =PV( rate, nper, fv, type)                                                                  inte
      =NPV( rate, CF1, CF2…. (as range or cells separated by commas). NOTE: You Calculates the net present value for a s
4)                          cannot include Cash Flow at time 0.                                                    time between
                                                                                       Returns the net present value for a sch
                                                                                           periodic. To calculate the net presen
5)        =XNPV(rate, values, dates) NOTE: you can include Cash Flow at time 0.                                   periodic, use t
6)                              Cash Flow matters in Finance. Cash going out of the wallet is negative. Cash coming into the wa

7)       For the borrow the PV is positive, the PMT is negative, and the FV is negative. For the Lender the PV is negative, the P
      Be consistent with your unit of time! If you are calculating monthly payment, you need monthly interest rate and total numbe
8)                                                                      quarterly, yearly or any other length).


      You are considering buying a machine that will yield $35,000.00 net cash flow in
        for the next ten years. If you must earn a minimum return on investment of
 1                15.00%, should buy a machine if it costs ($165,500.00)?

     Net Cash Flow at end of each year =                $                    35,000.00
     Min Return (hurdle rate or Discount Rate) =                                   15%
     Cost =                                             $                  (165,500.00)
     Years                                                                           10
     PV =
     Difference =
     NPV =

 2                        Period                                      CF
                                                    0
                                                    1   $                    35,000.00
                                                    2   $                    35,000.00
                                                    3   $                    35,000.00
                                                    4   $                    35,000.00
                                                    5   $                    35,000.00
                                                    6   $                    35,000.00
                                                    7   $                    35,000.00
                                                    8   $                    35,000.00
                                                    9   $                    35,000.00
                                                   10   $                    35,000.00

 3 RRR                                                                              0.15

     Date                                               Year                                 CF        PV
                                             1/1/2007                                    0    - 500.00    - 500.00
                                             1/1/2008                                    1      200.00      173.91
                                             1/1/2010                                    3      100.00       65.73
1/1/2011   4   100.00      57.15
1/1/2012   5   100.00      49.70
1/1/2013   6   100.00      43.20
                        - 110.31

1/1/2009
     366
ards; if we put money in the bank today (present value) it will be worth
me cash amounts in the future, what amount do we have to put in the


 egular time periods. NPV function lets us calculate the present value
  n the amounts are not the same and the times are not the same.
sset has an annuity cash flow pattern, you can use the PV function for
nvestment Decision. An annuity has equal payments at equal time
                          intervals.
 the net present value for a series of cash flows that is periodic (equal
               time between each cash flow)
  net present value for a schedule of cash flows that is not necessarily
 To calculate the net present value for a series of cash flows that is
              periodic, use the NPV function.
ve. Cash coming into the wallet is positive.

 er the PV is negative, the PMT is positive, and the FV is positive.
nterest rate and total number of months! (The period can be monthly,
ngth).




              PV        XNPV
               - 500.00
                 173.91
                  65.75
   57.18
   49.72
   43.23
- 110.21
   FV function calculates the future value of a lump sum (invested at very beginning) or regular payments (called
1)              PMT and amount is the same for each period and the amount is always the same).
2)                           PMT means periodic payment (same amount each period)
   PMT function calculates the period payment for a loan (For the Borrower or the Lender). The Amount of each
3)                  PMT must be the same and the time between each PMT must be the same.
   Cash Flow matters in Finance. Cash going out of the wallet is negative. Cash coming into the wallet is positive.
   Time period Matters in Finance: Example - if you are making monthly payments, then total number of periods
4)                                         must be total number of months.
      For the borrow the PV is positive, the PMT is negative, and the FV is negative. For the Lender the PV is
5)                              negative, the PMT is positive, and the FV is positive.

         =FV(rate = period rate, nper = total number of periods, pmt means periodic payment, pv means amount
6)    invested or lent out today, type refers to the PMT: PMT at end of period = 0, PMT at beginning of period = 1)
         =PMT(rate = period rate, nper = total number of periods, pv means amount invested or lent out today, fv
      means amount received after all the periods have elapsed or amount paid after all the periods have elapsed,
7)                  type refers to the PMT: PMT at end of period = 0, PMT at beginning of period = 1)

     Monthly PMT                                                   Amount put in
     years                                                         Amount taken out
     Months                                                        Interest
     Annual Rate
     Monthly Rate
     FV

     PV
     years
     Months
     Annual Rate
     Monthly Rate
     Monthly PMT
 ) or regular payments (called
ways the same).
 od)
Lender). The Amount of each
 e the same.
ming into the wallet is positive.
 then total number of periods

 . For the Lender the PV is


ayment, pv means amount
T at beginning of period = 1)
vested or lent out today, fv
all the periods have elapsed,
g of period = 1)
      An Amortization table breaks apart your Period PMT into 2 pieces: 1) How much goes to reducing the loan balanc
1)                                                        the bank takes as interest.

      =PMT(rate = period rate, nper = total number of periods, pv means amount invested or lent out today, fv means am
2)       all the periods have elapsed or amount paid after all the periods have elapsed, type refers to the PMT: PMT a

3)      An alternative to using the IPMT function to calculate the period interest, use (Balance From Period Before)*(Pe
4)          An alternative to using the PPMT function to calculate the period Principal Reduction, use (Period PMT )-(Pe
5)                                  Use the IF function to help make you Amortization Table more "Updateable".

     Item             House             Annual Rate                               8.25%
     Price               $450,000.00    Monthly Rate                         0.00687500
     Down                 $45,000.00    Years                                         30
     Loan                $405,000.00    Months                                       360
     PMT                    -3,042.63   Periods Per Year                              12
     PMT                     3,042.63   Type (0 = End, 1 = Begin)                      0
     PMT                     3,042.63   Total PMT Paid                              0.00
     PMT                     3,042.63   Total Interest Paid                       $0.00
                                        Total Principal Paid from PMT             $0.00
                                        Total Principal Paid with Down         45,000.00
                                        Total Paid                             45,000.00

                                        Interest Paid (Amount that you
                                        can deduct/earn for taxes and
     Periods          PMT               on income statement)             Loan Reduction
ow much goes to reducing the loan balance and 2) How much
 interest.

ount invested or lent out today, fv means amount received after
ve elapsed, type refers to the PMT: PMT at end of period)

st, use (Balance From Period Before)*(Period Interest Rate)       =IPMT(
Principal Reduction, use (Period PMT )-(Period Interest)          =PPMT(
tization Table more "Updateable".




              Balance
                                          Additional Payment
Item           House             Annual Rate                               6.00%
Price             $150,000.00    Monthly Rate                         0.01500000
Down                    $0.00    Years                                         15
Loan              $150,000.00    Months                                        60
PMT                  -3,809.01   Periods Per Year                               4
PMT                   3,809.01   Type (0 = End, 1 = Begin)                      0
PMT                   3,809.01   Total PMT Paid                        228,541.01
PMT                   3,809.01   Total Interest Paid                  $78,541.01
                                 Total Principal Paid from PMT       $150,000.00
                                 Total Principal Paid with Down        150,000.00
                                 Total Paid                            228,541.01

                                 Interest Paid (Amount that you
                                 can deduct/earn for taxes and
Periods        PMT               on income statement)             Loan Reduction Balance
           0                                                                         150,000.00
           1         3,809.01                          2,250.00         1,559.01     148,440.99
           2         3,809.01                          2,226.61         1,582.40     146,858.59
           3         3,809.01                          2,202.88         1,606.13     145,252.46
           4         3,809.01                          2,178.79         1,630.22     143,622.24
           5         3,809.01                          2,154.33         1,654.68     141,967.56
           6         3,809.01                          2,129.51         1,679.50     140,288.06
           7         3,809.01                          2,104.32         1,704.69     138,583.37
           8         3,809.01                          2,078.75         1,730.26     136,853.11
           9         3,809.01                          2,052.80         1,756.21     135,096.90
          10         3,809.01                          2,026.45         1,782.56     133,314.34
          11         3,809.01                          1,999.72         1,809.29     131,505.05
          12         3,809.01                          1,972.58         1,836.43     129,668.62
          13         3,809.01                          1,945.03         1,863.98     127,804.64
          14         3,809.01                          1,917.07         1,891.94     125,912.70
          15         3,809.01                          1,888.69         1,920.32     123,992.38
          16         3,809.01                          1,859.89         1,949.12     122,043.26
          17         3,809.01                          1,830.65         1,978.36     120,064.90
          18         3,809.01                          1,800.97         2,008.04     118,056.86
          19         3,809.01                          1,770.85         2,038.16     116,018.70
          20         3,809.01                          1,740.28         2,068.73     113,949.97
          21         3,809.01                          1,709.25         2,099.76     111,850.21
          22         3,809.01                          1,677.75         2,131.26     109,718.95
          23         3,809.01                          1,645.78         2,163.23     107,555.72
          24         3,809.01                          1,613.34         2,195.67     105,360.05
          25         3,809.01                          1,580.40         2,228.61     103,131.44
          26         3,809.01                          1,546.97         2,262.04     100,869.40
          27         3,809.01                          1,513.04         2,295.97      98,573.43
          28         3,809.01                          1,478.60         2,330.41      96,243.02
          29         3,809.01                          1,443.65         2,365.36      93,877.66
          30         3,809.01                          1,408.16         2,400.85      91,476.81
          31         3,809.01                          1,372.15         2,436.86      89,039.95
          32         3,809.01                          1,335.60         2,473.41      86,566.54
          33         3,809.01                          1,298.50         2,510.51      84,056.03
          34         3,809.01                          1,260.84         2,548.17      81,507.86
          35         3,809.01                          1,222.62         2,586.39      78,921.47
          36         3,809.01                          1,183.82         2,625.19      76,296.28
37   3,809.01   1,144.44   2,664.57   73,631.71
38   3,809.01   1,104.48   2,704.53   70,927.18
39   3,809.01   1,063.91   2,745.10   68,182.08
40   3,809.01   1,022.73   2,786.28   65,395.80
41   3,809.01     980.94   2,828.07   62,567.73
42   3,809.01     938.52   2,870.49   59,697.24
43   3,809.01     895.46   2,913.55   56,783.69
44   3,809.01     851.76   2,957.25   53,826.44
45   3,809.01     807.40   3,001.61   50,824.83
46   3,809.01     762.37   3,046.64   47,778.19
47   3,809.01     716.67   3,092.34   44,685.85
48   3,809.01     670.29   3,138.72   41,547.13
49   3,809.01     623.21   3,185.80   38,361.33
50   3,809.01     575.42   3,233.59   35,127.74
51   3,809.01     526.92   3,282.09   31,845.65
52   3,809.01     477.68   3,331.33   28,514.32
53   3,809.01     427.71   3,381.30   25,133.02
54   3,809.01     377.00   3,432.01   21,701.01
55   3,809.01     325.52   3,483.49   18,217.52
56   3,809.01     273.26   3,535.75   14,681.77
57   3,809.01     220.23   3,588.78   11,092.99
58   3,809.01     166.39   3,642.62    7,450.37
59   3,809.01     111.76   3,697.25    3,753.12
60   3,809.42      56.30   3,753.12        0.00
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Additional Payment
                                            436d3323-57aa-42d7-a882-3499f31f3188.xls - Tax



     =CUMIPMT( rate = period rate, nper = total periods, pv = loan balance at beginning, start_period = 1st period that you want to add the interest,
1)                                           end_period = last period that you want to add the interest)
2)                                            The Tax column tells us how much we save on our taxes
3)                      Net Cash out is the actual cash you will have paid out that is associated with the Interest Expense




                                         28.00% Tax Rate

                        Cumulative
       Year          Interest For Year         TAX             Net cash out         Item        House          Annual Rate                       6.00%
                 1                                     -                  -         Price       $150,000.00    Monthly Rate                 0.01500000
                 2                                     -                  -         Down              $0.00    Years                                 15
                 3                                     -                  -         Loan        $150,000.00    Months                                60
                 4                                     -                  -         PMT            -3,809.01   Periods Per Year                       4
                 5                                     -                  -                                    Type (0 = End, 1 = Begin)              0
                 6                                     -                  -
                 7                                     -                  -
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                24                                     -                  -
                25                                     -                  -
                26                                     -                  -
                27                                     -                  -
                28                                     -                  -
                29                                     -                  -
                30                                     -                  -



                                                               Page 54 of 54

				
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Description: Youtube Income Statement document sample