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Finance Calculations

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Finance Calculations Powered By Docstoc
					   Installment Loan Payment Amount Calculation
Principal        $ 4,000.00    Total Paid          $     4,869.60
Yearly Rate             10%    less original             4,000.00
Pays per Year             12   Interest            $       869.60
No. Years                  4
                                 Enter the appropriate numbers in the
Begin=1; End=0             0    green boxes to calculate the payment,
                                total paid, and interest paid. DO NOT
                                            enter the % sign.
Pay per Period   $   101.45     The second pay per period amount is
                               based on the formula from our textbook
                                 and is for payments at the end of the
Pay per Period   $   101.45                 payment period.

Number of pays       48
Credit Card Calculation of Finance Charge and Balances

 Previous Balance            $   856.90    Enter the six
  Annual Percentage Rate         16.24%    numbers to the
      Number of Days                  30   left and get the
   Average Daily Balance     $   919.23    four calculated
 Purchases                   $   399.15    values below.
         Payment             $   300.00    Do not enter %.
            Finance Charge                           12.27
 Balance before Payment                     $     1,268.32
        less payment                                300.00

                New Balance                $       968.32
Balances
                                     Credit Card Monthly Record
                                                               Maximium of 120 payments.
     Beginning Balance                  $         1,000.00      Enter the four numbers to
     Monthly Payment                    $           120.00       left. All of these values
     Monthly Expense                    $            75.00       stay fixed throughout the
     Monthly Interest Rate                           1.50%       problem.

     Total of all Payments              $         3,325.56        The four values to the
     Total Interest Paid                $           225.56         left are calculated.
     Number of Payments                                  28       To see the monthly entries,
     Last Payment                       $            85.56         scroll down.
     Ending Balance is                                0.00




                                                                                Total due
                                                                                before next
                                                                                payment

Month Payment            Expenses      Interest                New Balance
   0        -                  -                   -           $    1,000.00        1090.00
   1            120.00           75.00                 15.00           970.00       1059.55
   2            120.00           75.00                 14.55           939.55       1028.64
   3            120.00           75.00                 14.09           908.64        997.27
   4            120.00           75.00                 13.63           877.27        965.43
   5            120.00           75.00                 13.16           845.43        933.11
   6            120.00           75.00                 12.68           813.11        900.31
   7            120.00           75.00                 12.20           780.31        867.01
   8            120.00           75.00                 11.70           747.01        833.22
   9            120.00           75.00                 11.21           713.22        798.92
  10            120.00           75.00                 10.70           678.92        764.10
  11            120.00           75.00                 10.18           644.10        728.76
  12            120.00           75.00                  9.66           608.76        692.90
  13            120.00           75.00                  9.13           572.90        656.49
  14            120.00           75.00                  8.59           536.49        619.54
  15            120.00           75.00                  8.05           499.54        582.03
  16            120.00           75.00                  7.49           462.03        543.96
  17            120.00           75.00                  6.93           423.96        505.32
  18            120.00           75.00                  6.36           385.32        466.10
  19            120.00           75.00                  5.78           346.10        426.29
  20            120.00           75.00                  5.19           306.29        385.88
  21            120.00           75.00                  4.59           265.88        344.87
  22            120.00           75.00                  3.99           224.87        303.25
23   120.00   75.00   3.37   183.25   260.99
24   120.00   75.00   2.75   140.99   218.11
25   120.00   75.00   2.11    98.11   174.58
26   120.00   75.00   1.47    54.58   130.40
27   120.00   75.00   0.82    10.40    85.56
28    85.56   75.00   0.16     0.00     0.00
29                                      0.00
30                                      0.00
31                                      0.00
32                                      0.00
33                                      0.00
34                                      0.00
35                                      0.00
36                                      0.00
37                                      0.00
38                                      0.00
39                                      0.00
40                                      0.00
41                                      0.00
42                                      0.00
43                                      0.00
44                                      0.00
45                                      0.00
46                                      0.00
47                                      0.00
48                                      0.00
49                                      0.00
50                                      0.00
51                                      0.00
52                                      0.00
53                                      0.00
54                                      0.00
55                                      0.00
56                                      0.00
57                                      0.00
58                                      0.00
59                                      0.00
60                                      0.00
61                                      0.00
62                                      0.00
63                                      0.00
64                                      0.00
65                                      0.00
66                                      0.00
67                                      0.00
68                                      0.00
69                                      0.00
70                                      0.00
71                                      0.00
72                                      0.00
73                                      0.00
74                                      0.00
  75                                    0.00
  76                                    0.00
  77                                    0.00
  78                                    0.00
  79                                    0.00
  80                                    0.00
  81                                    0.00
  82                                    0.00
  83                                    0.00
  84                                    0.00
  85                                    0.00
  86                                    0.00
  87                                    0.00
  88                                    0.00
  89                                    0.00
  90                                    0.00
  91                                    0.00
  92                                    0.00
  93                                    0.00
  94                                    0.00
  95                                    0.00
  96                                    0.00
  97                                    0.00
  98                                    0.00
  99                                    0.00
 100                                    0.00
 101                                    0.00
 102                                    0.00
 103                                    0.00
 104                                    0.00
 105                                    0.00
 106                                    0.00
 107                                    0.00
 108                                    0.00
 109                                    0.00
 110                                    0.00
 111                                    0.00
 112                                    0.00
 113                                    0.00
 114                                    0.00
 115                                    0.00
 116                                    0.00
 117                                    0.00
 118                                    0.00
 119                                    0.00
 120                                    0.00


Totals   3,325.56   2,100.00   225.56

Counts        28         28       28
0 payments.
 numbers to
se values
oughout the




onthly entries,

				
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