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7 Ipmt Cumipmt Functions

The document contains 5 problems related to calculating interest payments on loans over time using the CUMIPMT and IPMT functions in Excel. Problem 1 asks to calculate the interest for months 1, 90, 180, 270, and 360 of a $160,000 loan at 5% interest for 30 years. Problem 2 asks to present the interest payment schedule for a $40,000 loan paid back weekly over 2 years at 12.5% interest. Problem 3 calculates the amount lost by a bank if a borrower repays the remaining balance of a $150,000 loan with 12% interest and $3,085 monthly payments after 2.5 years. Problems 4 and 5 use loan amounts, interest rates, and payment details

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60 views1 page

7 Ipmt Cumipmt Functions

The document contains 5 problems related to calculating interest payments on loans over time using the CUMIPMT and IPMT functions in Excel. Problem 1 asks to calculate the interest for months 1, 90, 180, 270, and 360 of a $160,000 loan at 5% interest for 30 years. Problem 2 asks to present the interest payment schedule for a $40,000 loan paid back weekly over 2 years at 12.5% interest. Problem 3 calculates the amount lost by a bank if a borrower repays the remaining balance of a $150,000 loan with 12% interest and $3,085 monthly payments after 2.5 years. Problems 4 and 5 use loan amounts, interest rates, and payment details

Uploaded by

passant
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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IPMT – CUMIPMT Functions

Problem 1

Jack wishes to take a loan that is worth $160,000 for 30 years. Assuming that there is no future
value, the interest rate for the 30 years is 5% (calculated monthly), and payments are due at the
end of the period. What will the interest be for the 1st month, 90th month, 180th month, 270th
month and the 360th month?

Problem 2

Shady wants to take a loan from the bank with the amount of $40,000, he agreed with the
bank to pay back the loan through weekly installments within two years only, the bank
representative told him that they would deduct 12.5% as annual interest. Present to shady
the interest payments schedule during the whole period.

Problem 3

Sara took a loan from the bank with amount of $150,000, with annual interest rate of 12%, she
pays about $3,085 at the beginning of each month for 5.5 years. After paying her installments
for two years and a half, she decided to pay back the remaining amount of loan to the bank;
calculate the amount of money that the bank will lose.

Problem 4

Ibrahim wants to start a new project with his friend, they have now $50,000, but this amount of
money is not enough. They decided to take a loan form the bank with amount of $200,000, with
annual interest rate of 13% they will pay amount of money at the end of each month for 6 years
and half. Calculate the total interest payment the bank will deduct.

Problem 5

Two years ago, Adel took a 5-year loan from the bank with annual interest rate of 10% and a
monthly payment basis. If you know that the total interest payment until now is 16,840.124,
calculate the loan amount.

CSC201 Exercises 19S

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