Use the "Excel: Loan Schedule" template located under "Week 6. Borrowing (Mar 11)".
Imagine taking a 1000 EUR loan for 12 months at an annual interest rate of 10%.
The loan repayment schedule follows the standard annuity approach.
Select all that is correct.

Question

Use the "Excel: Loan Schedule" template located under "Week 6. Borrowing (Mar 11)".

Imagine taking a 1000 EUR loan for 12 months at an annual interest rate of 10%.

The loan repayment schedule follows the standard annuity approach.

Select all that is correct.

Accepted Answer

total interest paid is about 55 EUR

Accepted Answer

outstanding loan balance at the beginning of 6th month is about 595 EUR

Accepted Answer

total amount of payment is about 1055 EUR

Answer

the interest is fully repaid by the 10th month

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