06-24-2013, 11:37 AM
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#2
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#1 Goaltender
Join Date: Nov 2005
Location: An all-inclusive.
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I'm far from an expert here, but would your bank or creditor not have provided a monthly schedule? Every purchase agreement I've seen like what you're describing does.
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06-24-2013, 11:41 AM
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#3
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Franchise Player
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Quote:
Originally Posted by Kybosh
I'm far from an expert here, but would your bank or creditor not have provided a monthly schedule? Every purchase agreement I've seen like what you're describing does.
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Sorry, I'm not actually doing this, it's just a problem that I have to solve and the residual value is throwing me off.
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06-24-2013, 11:45 AM
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#4
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Franchise Player
Join Date: Jul 2003
Location: In my office, at the Ministry of Awesome!
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Do your own homework junior!
__________________
THE SHANTZ WILL RISE AGAIN.
 <-----Check the Badge bitches. You want some Awesome, you come to me!
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06-24-2013, 11:47 AM
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#5
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Powerplay Quarterback
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Quote:
Originally Posted by Bring_Back_Shantz
Do your own homework junior!
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Yeah, seriously are you asking an online forum to do your homework for you? Use a spreadsheet and goal-seek. You should be able to figure it out in the time it took you to type this up.
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06-24-2013, 11:49 AM
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#6
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NOT a cool kid
Join Date: Sep 2009
Location: Calgary
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Are the payments blended or just P + I?
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06-24-2013, 11:54 AM
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#7
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Franchise Player
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Quote:
Originally Posted by J-bo09
Are the payments blended or just P + I?
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Just principle and interest. Pretty sure I have the right answer ($5,136.90) but just wanted to make sure I was on the right track.
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06-24-2013, 12:01 PM
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#8
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Lifetime Suspension
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Quote:
Originally Posted by Ark2
Just principle and interest. Pretty sure I have the right answer ($5,136.90) but just wanted to make sure I was on the right track.
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I'm no mathematician but that number seems too low.
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06-24-2013, 12:37 PM
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#9
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Powerplay Quarterback
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$5,137 is the answer. I'm a CGA and ran it through my amortizaion schedule, here is one from the web that works well also.
http://www.bretwhissel.net/cgi-bin/amortize
This comes up with $5,137.51. $280,000 amortized over five years, monthly payments p+i at 5% with 10k down at the end.
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06-24-2013, 02:09 PM
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#10
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Franchise Player
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Quote:
Originally Posted by loob job
$5,137 is the answer. I'm a CGA and ran it through my amortizaion schedule, here is one from the web that works well also.
http://www.bretwhissel.net/cgi-bin/amortize
This comes up with $5,137.51. $280,000 amortized over five years, monthly payments p+i at 5% with 10k down at the end. |
Awesome! Looks like I was right but I appreciate your help. Thanks!!
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06-24-2013, 02:22 PM
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#11
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Dances with Wolves
Join Date: Jun 2006
Location: Section 304
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Quote:
Originally Posted by pseudoreality
Yeah, seriously are you asking an online forum to do your homework for you? Use a spreadsheet and goal-seek. You should be able to figure it out in the time it took you to type this up.
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Whyyyyyy soooooo prickish? Asking a question on a message board... not actually that out of the ordinary.
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06-25-2013, 02:35 AM
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#12
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Has lived the dream!
Join Date: Apr 2004
Location: Where I lay my head is home...
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^^^ same class...
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06-25-2013, 07:10 PM
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#13
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Franchise Player
Join Date: Aug 2009
Location: wearing raccoons for boots
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If the OP starts asking us multiple choice questions, there could be an issue then.
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Loan Payment Question
