Question

For a loan of $100,000, at a 4 percent annual interest for 30 years, find the balance at the end of 4 years and 15 years assuming monthly payments.

Answer 1

	Principal	1,00,000.00
	Interest	4%	p.a
	Tenure	30	yrs
	Frequency	Monthly
	Monthly Payment	477.41529
	Opening balance	Monthly payment	interest	principal	closing bal
month 1	1,00,000.00	477.41529	333.33	144.082	99,855.92
month 2	99,855.92	477.41529	332.85	144.5622	99,711.36
month 3	99,711.36	477.41529	332.37	145.0441	99,566.31
month 4	99,566.31	477.41529	331.89	145.5276	99,420.78
month 5	99,420.78	477.41529	331.40	146.0127	99,274.77
month 6	99,274.77	477.41529	330.92	146.4994	99,128.27
month 7	99,128.27	477.41529	330.43	146.9877	98,981.28
month 8	98,981.28	477.41529	329.94	147.4777	98,833.81
month 9	98,833.81	477.41529	329.45	147.9693	98,685.84
month 10	98,685.84	477.41529	328.95	148.4625	98,537.37
month 11	98,537.37	477.41529	328.46	148.9574	98,388.42
month 12	98,388.42	477.41529	327.96	149.4539	98,238.96
month 13	98,238.96	477.41529	327.46	149.9521	98,089.01
month 14	98,089.01	477.41529	326.96	150.4519	97,938.56
month 15	97,938.56	477.41529	326.46	150.9534	97,787.61
month 16	97,787.61	477.41529	325.96	151.4566	97,636.15
month 17	97,636.15	477.41529	325.45	151.9615	97,484.19
month 18	97,484.19	477.41529	324.95	152.468	97,331.72
month 19	97,331.72	477.41529	324.44	152.9762	97,178.74
month 20	97,178.74	477.41529	323.93	153.4861	97,025.26
month 21	97,025.26	477.41529	323.42	153.9978	96,871.26
month 22	96,871.26	477.41529	322.90	154.5111	96,716.75
month 23	96,716.75	477.41529	322.39	155.0261	96,561.72
month 24	96,561.72	477.41529	321.87	155.5429	96,406.18
month 25	96,406.18	477.41529	321.35	156.0614	96,250.12
month 26	96,250.12	477.41529	320.83	156.5816	96,093.54
month 27	96,093.54	477.41529	320.31	157.1035	95,936.43
month 28	95,936.43	477.41529	319.79	157.6272	95,778.81
month 29	95,778.81	477.41529	319.26	158.1526	95,620.65
month 30	95,620.65	477.41529	318.74	158.6798	95,461.97
month 31	95,461.97	477.41529	318.21	159.2087	95,302.77
month 32	95,302.77	477.41529	317.68	159.7394	95,143.03
month 33	95,143.03	477.41529	317.14	160.2719	94,982.75
month 34	94,982.75	477.41529	316.61	160.8061	94,821.95
month 35	94,821.95	477.41529	316.07	161.3421	94,660.61
month 36	94,660.61	477.41529	315.54	161.8799	94,498.73
month 37	94,498.73	477.41529	315.00	162.4195	94,336.31
month 38	94,336.31	477.41529	314.45	162.9609	94,173.35
month 39	94,173.35	477.41529	313.91	163.5041	94,009.84
month 40	94,009.84	477.41529	313.37	164.0492	93,845.79
month 41	93,845.79	477.41529	312.82	164.596	93,681.20
month 42	93,681.20	477.41529	312.27	165.1446	93,516.05
month 43	93,516.05	477.41529	311.72	165.6951	93,350.36
month 44	93,350.36	477.41529	311.17	166.2474	93,184.11
month 45	93,184.11	477.41529	310.61	166.8016	93,017.31
month 46	93,017.31	477.41529	310.06	167.3576	92,849.95
month 47	92,849.95	477.41529	309.50	167.9155	92,682.03
month 48	92,682.03	477.41529	308.94	168.4752	92,513.56
month 49	92,513.56	477.41529	308.38	169.0368	92,344.52
month 50	92,344.52	477.41529	307.82	169.6002	92,174.92
month 51	92,174.92	477.41529	307.25	170.1655	92,004.76
month 52	92,004.76	477.41529	306.68	170.7328	91,834.02
month 53	91,834.02	477.41529	306.11	171.3019	91,662.72
month 54	91,662.72	477.41529	305.54	171.8729	91,490.85
month 55	91,490.85	477.41529	304.97	172.4458	91,318.40
month 56	91,318.40	477.41529	304.39	173.0206	91,145.38
month 57	91,145.38	477.41529	303.82	173.5973	90,971.79
month 58	90,971.79	477.41529	303.24	174.176	90,797.61
month 59	90,797.61	477.41529	302.66	174.7566	90,622.85
month 60	90,622.85	477.41529	302.08	175.3391	90,447.51
month 61	90,447.51	477.41529	301.49	175.9236	90,271.59
month 62	90,271.59	477.41529	300.91	176.51	90,095.08
month 63	90,095.08	477.41529	300.32	177.0984	89,917.98
month 64	89,917.98	477.41529	299.73	177.6887	89,740.29
month 65	89,740.29	477.41529	299.13	178.281	89,562.01
month 66	89,562.01	477.41529	298.54	178.8753	89,383.14
month 67	89,383.14	477.41529	297.94	179.4715	89,203.67
month 68	89,203.67	477.41529	297.35	180.0697	89,023.60
month 69	89,023.60	477.41529	296.75	180.67	88,842.93
month 70	88,842.93	477.41529	296.14	181.2722	88,661.65
month 71	88,661.65	477.41529	295.54	181.8764	88,479.78
month 72	88,479.78	477.41529	294.93	182.4827	88,297.29
month 73	88,297.29	477.41529	294.32	183.091	88,114.20
month 74	88,114.20	477.41529	293.71	183.7013	87,930.50
month 75	87,930.50	477.41529	293.10	184.3136	87,746.19
month 76	87,746.19	477.41529	292.49	184.928	87,561.26
month 77	87,561.26	477.41529	291.87	185.5444	87,375.72
month 78	87,375.72	477.41529	291.25	186.1629	87,189.55
month 79	87,189.55	477.41529	290.63	186.7834	87,002.77
month 80	87,002.77	477.41529	290.01	187.4061	86,815.36
month 81	86,815.36	477.41529	289.38	188.0307	86,627.33
month 82	86,627.33	477.41529	288.76	188.6575	86,438.68
month 83	86,438.68	477.41529	288.13	189.2864	86,249.39
month 84	86,249.39	477.41529	287.50	189.9173	86,059.47
month 85	86,059.47	477.41529	286.86	190.5504	85,868.92
month 86	85,868.92	477.41529	286.23	191.1856	85,677.74
month 87	85,677.74	477.41529	285.59	191.8228	85,485.91
month 88	85,485.91	477.41529	284.95	192.4622	85,293.45
month 89	85,293.45	477.41529	284.31	193.1038	85,100.35
month 90	85,100.35	477.41529	283.67	193.7475	84,906.60
month 91	84,906.60	477.41529	283.02	194.3933	84,712.21
month 92	84,712.21	477.41529	282.37	195.0413	84,517.16
month 93	84,517.16	477.41529	281.72	195.6914	84,321.47
month 94	84,321.47	477.41529	281.07	196.3437	84,125.13
month 95	84,125.13	477.41529	280.42	196.9982	83,928.13
month 96	83,928.13	477.41529	279.76	197.6549	83,730.48
month 97	83,730.48	477.41529	279.10	198.3137	83,532.16
month 98	83,532.16	477.41529	278.44	198.9747	83,333.19
month 99	83,333.19	477.41529	277.78	199.638	83,133.55
month 100	83,133.55	477.41529	277.11	200.3035	82,933.25
month 101	82,933.25	477.41529	276.44	200.9711	82,732.28
month 102	82,732.28	477.41529	275.77	201.641	82,530.63
month 103	82,530.63	477.41529	275.10	202.3132	82,328.32
month 104	82,328.32	477.41529	274.43	202.9876	82,125.33
month 105	82,125.33	477.41529	273.75	203.6642	81,921.67
month 106	81,921.67	477.41529	273.07	204.3431	81,717.33
month 107	81,717.33	477.41529	272.39	205.0242	81,512.30
month 108	81,512.30	477.41529	271.71	205.7076	81,306.59
month 109	81,306.59	477.41529	271.02	206.3933	81,100.20
month 110	81,100.20	477.41529	270.33	207.0813	80,893.12
month 111	80,893.12	477.41529	269.64	207.7716	80,685.35
month 112	80,685.35	477.41529	268.95	208.4641	80,476.88
month 113	80,476.88	477.41529	268.26	209.159	80,267.73
month 114	80,267.73	477.41529	267.56	209.8562	80,057.87
month 115	80,057.87	477.41529	266.86	210.5557	79,847.31
month 116	79,847.31	477.41529	266.16	211.2576	79,636.06
month 117	79,636.06	477.41529	265.45	211.9618	79,424.09
month 118	79,424.09	477.41529	264.75	212.6683	79,211.43
month 119	79,211.43	477.41529	264.04	213.3772	78,998.05
month 120	78,998.05	477.41529	263.33	214.0885	78,783.96
month 121	78,783.96	477.41529	262.61	214.8021	78,569.16
month 122	78,569.16	477.41529	261.90	215.5181	78,353.64
month 123	78,353.64	477.41529	261.18	216.2365	78,137.40
month 124	78,137.40	477.41529	260.46	216.9573	77,920.45
month 125	77,920.45	477.41529	259.73	217.6805	77,702.77
month 126	77,702.77	477.41529	259.01	218.4061	77,484.36
month 127	77,484.36	477.41529	258.28	219.1341	77,265.23
month 128	77,265.23	477.41529	257.55	219.8645	77,045.36
month 129	77,045.36	477.41529	256.82	220.5974	76,824.76
month 130	76,824.76	477.41529	256.08	221.3327	76,603.43
month 131	76,603.43	477.41529	255.34	222.0705	76,381.36
month 132	76,381.36	477.41529	254.60	222.8108	76,158.55
month 133	76,158.55	477.41529	253.86	223.5535	75,935.00
month 134	75,935.00	477.41529	253.12	224.2986	75,710.70
month 135	75,710.70	477.41529	252.37	225.0463	75,485.65
month 136	75,485.65	477.41529	251.62	225.7965	75,259.85
month 137	75,259.85	477.41529	250.87	226.5491	75,033.31
month 138	75,033.31	477.41529	250.11	227.3043	74,806.00
month 139	74,806.00	477.41529	249.35	228.062	74,577.94
month 140	74,577.94	477.41529	248.59	228.8222	74,349.12
month 141	74,349.12	477.41529	247.83	229.5849	74,119.53
month 142	74,119.53	477.41529	247.07	230.3502	73,889.18
month 143	73,889.18	477.41529	246.30	231.118	73,658.06
month 144	73,658.06	477.41529	245.53	231.8884	73,426.18
month 145	73,426.18	477.41529	244.75	232.6614	73,193.51
month 146	73,193.51	477.41529	243.98	233.4369	72,960.08
month 147	72,960.08	477.41529	243.20	234.215	72,725.86
month 148	72,725.86	477.41529	242.42	234.9957	72,490.87
month 149	72,490.87	477.41529	241.64	235.7791	72,255.09
month 150	72,255.09	477.41529	240.85	236.565	72,018.52
month 151	72,018.52	477.41529	240.06	237.3535	71,781.17
month 152	71,781.17	477.41529	239.27	238.1447	71,543.02
month 153	71,543.02	477.41529	238.48	238.9385	71,304.09
month 154	71,304.09	477.41529	237.68	239.735	71,064.35
month 155	71,064.35	477.41529	236.88	240.5341	70,823.82
month 156	70,823.82	477.41529	236.08	241.3359	70,582.48
month 157	70,582.48	477.41529	235.27	242.1404	70,340.34
month 158	70,340.34	477.41529	234.47	242.9475	70,097.39
month 159	70,097.39	477.41529	233.66	243.7573	69,853.64
month 160	69,853.64	477.41529	232.85	244.5698	69,609.07
month 161	69,609.07	477.41529	232.03	245.3851	69,363.68
month 162	69,363.68	477.41529	231.21	246.203	69,117.48
month 163	69,117.48	477.41529	230.39	247.0237	68,870.45
month 164	68,870.45	477.41529	229.57	247.8471	68,622.61
month 165	68,622.61	477.41529	228.74	248.6733	68,373.93
month 166	68,373.93	477.41529	227.91	249.5022	68,124.43
month 167	68,124.43	477.41529	227.08	250.3339	67,874.10
month 168	67,874.10	477.41529	226.25	251.1683	67,622.93
month 169	67,622.93	477.41529	225.41	252.0055	67,370.92
month 170	67,370.92	477.41529	224.57	252.8455	67,118.08
month 171	67,118.08	477.41529	223.73	253.6884	66,864.39
month 172	66,864.39	477.41529	222.88	254.534	66,609.86
month 173	66,609.86	477.41529	222.03	255.3824	66,354.47
month 174	66,354.47	477.41529	221.18	256.2337	66,098.24
month 175	66,098.24	477.41529	220.33	257.0878	65,841.15
month 176	65,841.15	477.41529	219.47	257.9448	65,583.21
month 177	65,583.21	477.41529	218.61	258.8046	65,324.40
month 178	65,324.40	477.41529	217.75	259.6673	65,064.74
month 179	65,064.74	477.41529	216.88	260.5328	64,804.20
month 180	64,804.20	477.41529	216.01	261.4013	64,542.80
month 181	64,542.80	477.41529	215.14	262.2726	64,280.53
month 182	64,280.53	477.41529	214.27	263.1469	64,017.38
month 183	64,017.38	477.41529	213.39	264.024	63,753.36
month 184	63,753.36	477.41529	212.51	264.9041	63,488.45
month 185	63,488.45	477.41529	211.63	265.7871	63,222.67
month 186	63,222.67	477.41529	210.74	266.6731	62,955.99
month 187	62,955.99	477.41529	209.85	267.562	62,688.43
month 188	62,688.43	477.41529	208.96	268.4539	62,419.98
month 189	62,419.98	477.41529	208.07	269.3487	62,150.63
month 190	62,150.63	477.41529	207.17	270.2465	61,880.38
month 191	61,880.38	477.41529	206.27	271.1473	61,609.23
month 192	61,609.23	477.41529	205.36	272.0512	61,337.18
month 193	61,337.18	477.41529	204.46	272.958	61,064.23
month 194	61,064.23	477.41529	203.55	273.8679	60,790.36
month 195	60,790.36	477.41529	202.63	274.7808	60,515.58
month 196	60,515.58	477.41529	201.72	275.6967	60,239.88
month 197	60,239.88	477.41529	200.80	276.6157	59,963.26
month 358	1,422.75	477.41529	4.74	472.6728	950.08
month 359	950.08	477.41529	3.17	474.2484	475.83
month 360	475.83	477.41529	1.59	475.8292	0.00

Balance at teh end of 4 year = 92513.558

balance at the end of 15 year = 64542.7996

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