A company vehicle is being purchased for $55,000 and the business will put $5,000 down. If the company takes out a 5-year loan at 4%, what will the monthly principal and interest payment be? Create an amortization schedule. All calculated in excel?
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
A company vehicle is being purchased for $55,000 and the business will put $5,000 down.
If the company takes out a 5-year loan at 4%, what will the monthly principal and interest
payment be? Create an amortization schedule.
All calculated in excel?
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