Question: % Compute the sum the second column to compute the total interest paid over % the term of the loan and assign to the variable
% Compute the sum the second column to compute the total interest paid over % the term of the loan and assign to the variable TotalInterestPaid TotalInterestPaid = sum(AmortizationTable.Interest) % Compute the fraction (decimal fraction) of the monthly payment that is applied % to principal in the first month of the loan and assign this result to PrincipalFractionInitial. PrincipalFractionInitial = AmortizationTable.Principal(1) / (AmortizationTable.Principal(1) AmortizationTable.Interest(1)) % Compute the fraction (decimal fraction) of the monthly payment that is applied to % principal in the eighteenth month of the loan and assign this result to Principal Fraction18. PrincipalFraction18 = AmortizationTable.Principal(18) / (AmortizationTable.Principal(18) AmortizationTable.Interest(18))
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
