Question

amortization schedule calculator
loan amount $145,750.00
interest rate (annual) 5.41%
term (years) 20
monthly payment $995.20

month payment principal interest total interest balance
$145,750.00
1 $995.20 $338.11 $657.09 $657.09 $145,411.89
131 $995.20 $606.77 $388.44 $70,174.09 $85,552.69
132 $995.20 $609.50 $385.70 $70,559.79 $84,943.19
133 $995.20 $612.25 $382.95 $70,942.74 $84,330.94
134 $995.20 $615.01 $380.19 $71,322.93 $83,715.93

use the partial amortization schedule calculator above to answer questions a) and b).
a) what is the loan amount, or starting principal?
b) what is the annual interest rate?
question 5 (14.2 points)

Explanation:

a) The starting loan amount is explicitly listed at the top of the amortization schedule and as the initial balance.
b) The annual interest rate is clearly stated in the top section of the calculator results.

Answer:

a) $\$145,750.00$
b) $5.41\%$