How do I subtract the monthly repayment of a loan of $2,000,000 at 5% payable over 24 months or quarterly?
8 quarterly payments.Use excel template for answer
Answers:
Under excel goto:
insert:function
Choose: PMT
Then enter the variables:
for monthly payments:
Rate = 5%/12 (five percent a year remunerated monthly)
Nper = 24 (24 months per problem)
PV = 2,000,000 (amount of the loan per problem)
FV = 0 (loan is salaried past its sell-by date at the finish of the period)
Type= blank (payments made at stop of month)
This give you an answer of $87,742.78 per donation
The quarterly would be done like peas in a pod process, merely adjust rate to 5%/4 for quarterly interest rate, and NPR to 8 (which give you the answer of $264,266.27)
I hope that help.
I'd close to to know this myself but as you can see not a soul answered it.
That would be a monthly recompense of 87742.78.
Use the loan calculator (or any other specific type of calculator) on www.bankrate.com.
Go to Excel, click on Help, type in Loan Template, choose one. If you choose the Simple Loan, it will integer surrounded by monthly payments. You will own to look at other template to find one that data quarterly.
Then adjectives you do is overrun surrounded by the $, %, and time and the template does the work
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Answers:
Under excel goto:
insert:function
Choose: PMT
Then enter the variables:
for monthly payments:
Rate = 5%/12 (five percent a year remunerated monthly)
Nper = 24 (24 months per problem)
PV = 2,000,000 (amount of the loan per problem)
FV = 0 (loan is salaried past its sell-by date at the finish of the period)
Type= blank (payments made at stop of month)
This give you an answer of $87,742.78 per donation
The quarterly would be done like peas in a pod process, merely adjust rate to 5%/4 for quarterly interest rate, and NPR to 8 (which give you the answer of $264,266.27)
I hope that help.
I'd close to to know this myself but as you can see not a soul answered it.
That would be a monthly recompense of 87742.78.
Use the loan calculator (or any other specific type of calculator) on www.bankrate.com.
Go to Excel, click on Help, type in Loan Template, choose one. If you choose the Simple Loan, it will integer surrounded by monthly payments. You will own to look at other template to find one that data quarterly.
Then adjectives you do is overrun surrounded by the $, %, and time and the template does the work