Ali,Alleya Jane R.

0.010072
Month Payments Interest Amortization Present Value
3580000
1 318000 0 318000 3262000
1 72703 32853.39783 39849.602165 3222150.39783
2 72703 32452.05055 40250.949447 3181899.44839
3 72703 32046.66108 40656.338919 3141243.10947
4 72703 31637.18871 41065.81129 3100177.29818
5 72703 31223.59232 41479.407684 3058697.89049
6 72703 30805.83037 41897.169635 3016800.72086
7 72703 30383.8609 42319.139096 2974481.58176
8 72703 29957.64156 42745.358444 2931736.22332
9 72703 29527.12952 43175.870481 2888560.35284
10 72703 29092.28156 43610.718442 2844949.6344
11 72703 28653.054 44049.945997 2800899.6884
12 72703 28209.40275 44493.597254 2756406.09115
13 72703 27761.28323 44941.716767 2711464.37438
14 72703 27308.65046 45394.349538 2666070.02484
15 72703 26851.45898 45851.541024 2620218.48382
16 72703 26389.66286 46313.337136 2573905.14668
17 72703 25923.21575 46779.784251 2527125.36243
18 72703 25452.07079 47250.929212 2479874.43322
19 72703 24976.18067 47726.819333 2432147.61388
20 72703 24495.49759 48207.502406 2383940.11148
21 72703 24009.9733 48693.026703 2335247.08478
22 72703 23519.55902 49183.440982 2286063.64379
23 72703 23024.20551 49678.794493 2236384.8493
24 72703 22523.86302 50179.136982 2186205.71232
25 72703 22018.4813 50684.518696 2135521.19362
26 72703 21508.00961 51194.990387 2084326.20324
27 72703 20992.39668 51710.603319 2032615.59992
28 72703 20471.59073 52231.409274 1980384.19064
29 72703 19945.53945 52757.460552 1927626.73009
30 72703 19414.19002 53288.809982 1874337.92011
31 72703 18877.48908 53825.510924 1820512.40919
32 72703 18335.38272 54367.617277 1766144.79191
33 72703 17787.81652 54915.183482 1711229.60843
34 72703 17234.73547 55468.264527 1655761.3439
35 72703 16676.08404 56026.915956 1599734.42794
36 72703 16111.80613 56591.193872 1543143.23407
37 72703 15541.84506 57161.15494 1485982.07913
38 72703 14966.1436 57736.856401 1428245.22273
39 72703 14384.64393 58318.356068 1369926.86666
40 72703 13797.28766 58905.712338 1311021.15433
41 72703 13204.0158 59498.984196 1251522.17013
42 72703 12604.76878 60098.231222 1191423.93891
43 72703 11999.48641 60703.513595 1130720.42531
 44 72703 11388.1079 61314.892099 1069405.53321
45 72703 10770.57187 61932.428133 1007473.10508
46 72703 10146.81629 62556.183713 944916.921367
47 72703 9516.778522 63186.221478 881730.699889
48 72703 8880.395299 63822.604701 817908.095189
49 72703 8237.602711 64465.397289 753442.6979
50 72703 7588.336205 65114.663795 688328.034104
51 72703 6932.530578 65770.469422 622557.564682
52 72703 6270.119972 66432.880028 556124.684654
53 72703 5601.037863 67101.962137 489022.722517
54 72703 4925.217061 67777.782939 421244.939578
55 72703 4242.589695 68460.410305 352784.529273
56 72703 3553.087213 69149.912787 283634.616487
57 72703 2856.640372 69846.359628 213788.256859
58 72703 2153.179232 70549.820768 143238.436091
59 72703 1442.633147 71260.366853 71978.0692386
60 72703 724.9307615 71978.069238 8.7442459E-08
Total 4680180 1100180
Requirement A: Effective interest rate of 1.0072%
Requirement B: Total cash outflow on the acquisition of the vehicle is 4,680,180
Requirement C: Total interest expense is 1,100,180
Requirement D: Journal entry on initial recognition

Jan.1, Vehicle 3,898,000

2017 Discount on notes payable 782,180
Cash 318,000
Notes Payable 4,362,180