Annuity Repayment Table
To illustrate the loan to the repayment plan, an annuity repayment table is usually used. Usually the annuity listed in the table is a rounding annuity.
Information:
A = Annuity
C = Initial mode
i = Percentage of interest per period
n = Period
Answer:
C = $10,000,000
i = 12%/year = 0.12/year
n = 8 years
a. The amount of annuity
So when rounded up in the hundreds of thousands, then the annuity is $2,100,000.
b. Table of annuity repayment plan
Information :
Sorry if there is a wrong word.
The end of word wassalamualaikum wr. wb
Referensi :
The Formula of Annuity
Information:
A = Annuity
C = Initial mode
i = Percentage of interest per period
n = Period
Example Question of Annuity Repayment Table
A $10,000,000 loan is repaid with an annual annuity at an interest rate of 12% / yr for 8 years. If the annuity payment is rounded up in the hundreds of thousands, specify:a. The amount of an annuity before and after is rounded
b. Table of annuity repayment plan
c. Payment of last annuity
Answer:
C = $10,000,000
i = 12%/year = 0.12/year
n = 8 years
a. The amount of annuity
So when rounded up in the hundreds of thousands, then the annuity is $2,100,000.
b. Table of annuity repayment plan
Information :
Loan at the beginning of year 2 = loan balance at the end of year 1C. Payment of the last annuity
Loan at the beginning of the 3rd year = the remaining loan at the end of year 2, and so on
Interest + installment of each class = annuity of rounding results upward, except the end row (row 8)
Remaining loan at the end of year 1 = loan beginning 1st year - 1st installment
Remaining second year end loan = loan beginning 2nd year - 2nd installment, and so on.
Last installment = loan at the beginning of the last year.
$110,386.73 + $919,886.44 = $1,030,276,17.Similarly this article.
Sorry if there is a wrong word.
The end of word wassalamualaikum wr. wb
Referensi :
- To'Ali's book math group accounting and sales
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