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Truck Price $ 40,000.

00
% Down 15.00%
APR 1.00%
Pmt/Yr 12
Yr 2

Amount Down $ 6,000.00


Amount Loan $ 34,000.00
Monthly Deposit $ 247.61

Saving Schedule PMT # $ PMT $ INT $ BAL

1 $ 247.61 $ - $ 247.61
2 $ 247.61 $ 0.21 $ 495.43
3 $ 247.61 $ 0.41 $ 743.46
4 $ 247.61 $ 0.62 $ 991.69
5 $ 247.61 $ 0.83 $ 1,240.13
6 $ 247.61 $ 1.03 $ 1,488.77
7 $ 247.61 $ 1.24 $ 1,737.63
8 $ 247.61 $ 1.45 $ 1,986.69
9 $ 247.61 $ 1.66 $ 2,235.96
10 $ 247.61 $ 1.86 $ 2,485.43
11 $ 247.61 $ 2.07 $ 2,735.11
12 $ 247.61 $ 2.28 $ 2,985.01
13 $ 247.61 $ 2.49 $ 3,235.11
14 $ 247.61 $ 2.70 $ 3,485.41
15 $ 247.61 $ 2.90 $ 3,735.93
16 $ 247.61 $ 3.11 $ 3,986.66
17 $ 247.61 $ 3.32 $ 4,237.59
18 $ 247.61 $ 3.53 $ 4,488.74
19 $ 247.61 $ 3.74 $ 4,740.09
20 $ 247.61 $ 3.95 $ 4,991.65
21 $ 247.61 $ 4.16 $ 5,243.42
22 $ 247.61 $ 4.37 $ 5,495.41
23 $ 247.61 $ 4.58 $ 5,747.60
24 $ 247.61 $ 4.79 $ 6,000.00
$ 5,942.70 $ 57.30
1) How much money is deposited?
$5,942.70
2) What is the total amount of interest earned?
$57.30
3) What percentage of the amount deposited is the interest earned?
0.9642%
4) How does the percent above in #3 above compare to the APR?
The % above is lower than the stated APR, the account did not earn
compounding interest on the first deposit until after the period so the full 1%
was not earned.
House Price $ 250,000.00
% Down 20.00%
APR 1.50%
Pmt/ Yr 12
Yr 3

Amt Down $ 50,000.00


Amount Loan $ 200,000.00
Monthly Deposit $ 1,358.74

Savings Schedule PMT # $ PMT $ INT $ BAL

1 $ 1,358.74 $ - $ 1,358.74
12 $ 1,358.74 $ 18.80 $ 16,417.46
24 $ 1,358.74 $ 39.61 $ 33,082.87
36 $ 1,358.74 $ 60.73 $ 50,000.00
$ 48,914.68 $ 1,085.32
1) How much money is deposited?
$48,914.68
2) What is the total amount of interest earned?
$1,085.32
3) What percent of the amount deposited is the interest earned?
2.2189%
4) How does the percent in # 3 above compare to the APR?

The % his higher than the APR due to compound interest and the length of time deposits were
made into the account.
5) How do the answers in Part 4 I-A and Part 4 I-B Compare?
Both accounts did not earn interest during the first period and only began
The interest earned on the savings for the home down payment is growing much faster than the
truck down payment because of compound interest.
Loan Amount $ 34,000.00
APR 2.25%
Pmt/Yr 12
Yr 5

Monthly Payment $599.67

Payment Schedule PMT $ PMT $ INT PD $ PRINC PD $ BAL


$ 34,000.00
1 $599.67 $ 63.75 $535.92 $ 33,464.08
12 $599.67 $ 52.59 $547.08 $ 27,502.23
24 $599.67 $ 40.16 $559.51 $ 20,856.74
36 $599.67 $ 27.44 $572.23 $ 14,060.17
48 $599.67 $ 14.43 $585.24 $ 7,109.10
60 $599.67 $ 1.12 $598.55 $ 0.00
$35,980.18 $ 1,980.18 $34,000.00

1) What is the total amount of principal paid for the sixty payments?
$34,000.00
2) What is the total amount of interest paid for the sixty payments?
$1,980.18
3) What is the total amount paid for the sixty payments?
$35,980.18
4) The total interest is what percent of the amount of the loan?
5.8241%
Loan Amount $ 200,000.00
APR 3.75%
Pmt/Yr 12
Yr 30

Monthly Payment $926.23

Payment Schedule PMT $ PMT $ INT PD $ PRINC PD $ BAL


$ 200,000.00
1 $ 926.23 $ 625.00 $ 301.23 $ 199,698.77
12 $ 926.23 $ 614.48 $ 311.75 $ 196,322.45
60 $ 926.23 $ 564.11 $ 362.12 $ 180,154.63
120 $ 926.23 $ 489.56 $ 436.67 $ 156,223.55
240 $ 926.23 $ 291.25 $ 634.98 $ 92,566.43
360 $ 926.23 $ 2.89 $ 923.35 $ (0.00)
$ 333,443.23 $ 133,443.23 $ 200,000.00

1) What is the total amount of principal paid for the 360 payments?
$200,000.00
2) What is the total amount of interest paid for the 360 payments?
$133,443.23
3) What is the total amount paid for the 360 payments?
$333,443.23
4) The total interest is what percent of the amount of the loan?
66.7216%
5) How does the total percent of interest paid for the truck loan compare to the total percent of interest paid
for the mortgage?

The total interest paid for the mortgage is a higher percentage compared to the original loan of
$200,000 because the interest rate is higher and the loan amount is higher. The interest on the
truck loan is based off of the smaller loan amount as well as the shorter payment term.
Reflect: How has this project helped you learn and understand about future and present value?
How do you think the results would change if the parameters number of years and number of
payments per year at the beginning of the project were changed? How could you use this work to
learn more about future value and present value? There are numerous programs online that
produce future value and present value schedules like these in the project. Some such as
http://dknelsonmathteacher.weebly.com/1030-links.html also show how paying extra principle to
the regularly scheduled payments affects the time and interest paid

This project has helped me understand that larger loans with larger interest rates will cost much more
in interest over time. It has also helped me to understand that the more I deposit into savings the
more money I will earn through compound interest over time. Compound interest depends on rate
and number of compounds, if the parameters were changed at the beginning the amount of interest
would either increase or decrease. If extra payments are made toward principal balance the interest
due on the remaining balance is reduced faster, that would also impact the amount of interest
charged.

If I wanted to learn more about FV and PV I could use these spreadsheets, or make new spreadsheets,
for my debts and savings goals. Using the information available through this project can help me make
choices about paying off loans or saving for retirement with the money that I have today.