Truck Price

Percent Data
APR
PMT/YR
YR

$40,000.
00
15%
1%
12
2

AMOUNT
DOWN
AMOUNT LOAN
MONTHLY
DEPOSIT

6000
34000
247.6124
82

SAVING
SCHEDULE

PMT #

$ PMT

$ INT

1
2
3
4

$247.61
$247.61
$247.61
$247.61

$$0.21
$0.41
$0.62

$247.61

$0.83

$247.61

$1.03

$247.61

$1.24

$247.61

$1.45

$247.61

$1.66

10

$247.61

$1.86

11

$247.61

$2.07

12

$247.61

$2.28

13

$247.61

$2.49

14

$247.61

$2.70

15

$247.61

$2.90

16

$247.61

$3.11

$BAL
$247.61
$495.43
$743.46
$991.69
$1,240.
13
$1,488.
77
$1,737.
63
$1,986.
69
$2,235.
96
$2,485.
43
$2,735.
11
$2,985.
01
$3,235.
11
$3,485.
41
$3,735.
93
$3,986.
66

17

$247.61

$3.32

18

$247.61

$3.53

19

$247.61

$3.74

20

$247.61

$3.95

21

$247.61

$4.16

22

$247.61

$4.37

23

$247.61

$4.58

24

$247.61

$4.79

$5,942.
70

$57.30

$4,237.
59
$4,488.
74
$4,740.
09
$4,991.
65
$5,243.
42
$5,495.
41
$5,747.
60
$6,000.
00

1.

How much money is deposited? $5,942.70

2.

What is the total amount of interest is earned? $57.30

3.

What percent of the amount deposited is the interest earned? (Write

answer to four decimal places.) .9642%

4.

How does the percent in #3 above compare to the APR? Explain. They
are very close. Only off by .0358% a decimal that small is
very close to the correct APR.
House Price
Percent Data
APR
PMT/YR
YR
AMOUNT
DOWN
AMOUNT LOAN
MONTHLY

$250,000
.00
20%
2%
12
3
$50,000.
00
$200,000
.00
$1,358.7

DEPOSIT
SAVING
SCHEDULE

PMT #

$ PMT

$ INT

$1,358.74

12

$1,358.74

$18.80

24

$1,358.74

$39.61

36

$1,358.74

$60.73

$48,914.68

$-

$BAL
$1,358.7
4
$16,417.
46
$33,082.
87
$50,000.
00

$1,085.
32

1. How much money is deposited? $48,914.68

2. What is the total amount of interest is earned? $1085.32
3. What percent of the amount deposited is the interest earned? (Write
answer to four decimal places.) 2.2188%
4. How does the percent in #3 above compare to the APR? Explain.
They are completely different. The APR is off by .
7188%.
5. How do the answers in #4 Part I-A and #4 in Part I-B compare?
Explain. They are completely different. Part I-A had a
very small difference, whereas I-B has a very large
difference.
LOAN AMOUNT
APR
PMT/YR
YR

MONTHLY
PAYMENT

$34,000
.00
2%
12
5

$599.67

SAVING
SCHEDULE

PMT #

$ PMT

$ INT PD

$ PRINC
PD

$599.67

$63.75

$535.92

12

$599.67

$52.59

$547.08

24

$599.67

$40.16

$559.51

36

$599.67

$27.44

$572.23

48
60

$599.67
$599.67

$14.43
$1.12

$585.24
$598.55

$35,980. $1,980.1
18
8

$BAL
$34,000.
00
$33,464.
08
$27,502.
23
$20,856.
74
$14,060.
17
$7,109.1
0
$0.00

$34,000.
00

What is the total amount of principle paid for the sixty payments?
$34000
What is the total amount of interest paid for the sixty payments?
$1980.18
What is the total amount paid for the sixty payments?
$35.980.18
The total interest is what percent of the amount of the loan? 5.8241%

LOAN AMOUNT
APR
PMT/YR
YR

MONTHLY
PAYMENT

$200,000
.00
3.75%
12
30

$926.23

SAVING
SCHEDULE

PMT #

$ PMT
1
12
60
120
240
360

$926.23
$926.23
$926.23
$926.23
$926.23
$926.23
$333,443
.23

$ INT PD
$625.00
$614.48
$564.11
$489.56
$291.25
$2.89
$133,443.2
3

$ PRINC PD
$301.23
$311.75
$362.12
$436.67
$634.98
$923.35

$BAL
$200,000.00
$199,698.77
$196,322.45
$180,154.63
$156,223.55
$92,566.43
$(0.00)

$200,000.0
0

What is the total amount of principle paid for the 360 payments?
$200,000
What is the total amount of interest paid for the 360 payments?
$133,443.23
What is the total amount paid for the 360 payments? $333,443.23
The total interest is what percent of the amount of the loan? 66.722%
How does the total percent of interest paid for the truck loan compare to
the total percent of interest paid for the mortgage? The interest for the
two is completely different. The truck had a very small interest rate and
the House has a very large interest rate. Perhaps due to the size of the
loan.

Reflect:
How has this project helped you learn and understand about future and
present value? It has really helped me see how the different interest rates
and payments affects what you pay in total
How do you think the results would change if the parameters number of
years and number of payments per year at the beginning of the
project were changed? Well depending on the two changes in parameters

and if they were larger or smaller it would have a huge effect. They
would create larger or small payments and affect interest rates.
How could you use this work to learn more about future value and
present value? I would use this work in my own personal life to calculate
payments I need. I could also throw in different scenarios to help better
understand future and present values.