A(n) ..... shows the beginning and ending balances and the amount of payment that is applied to the principal and interest during each payment period.

USING THE UPPER AND LOWER FUNCTIONS IN EXCEL

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A(n) ____ shows the beginning and ending balances and the amount of payment that is applied to the principal and interest during each payment period.

A	dialog box
B	amortization schedule
C	formula checker
D	data table

Explanation:

Detailed explanation-1: -Starting in month one, take the total amount of the loan and multiply it by the interest rate on the loan. Then for a loan with monthly repayments, divide the result by 12 to get your monthly interest. Subtract the interest from the total monthly payment, and the remaining amount is what goes toward principal.

Detailed explanation-2: -These loans taken by the buyers are supposed to be repaid within a given timeframe with the help of regular installments which include a part of principal amount as well as interest. This process of paying off the debt over a period of time through monthly installments is known as amortization.

Detailed explanation-3: -The payment made each period on an amortized loan is constant, and it consists of some interest and some principal. The closer we are to the end of the loan’s life, the greater the percentage of the payment that will be a repayment of principal.

There is 1 question to complete.

FUNDAMENTALS OF COMPUTER

USING MICROSOFT EXCEL

USING THE UPPER AND LOWER FUNCTIONS IN EXCEL