Life in Africa-Global: Wall Loan
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ACTUAL LOAN
Terms:
| Principle | $1100 |
| Interest per year | 15% |
| Loan start date | 15 August 2010 |
| First payment | 1 November 2010 |
| Final payment date | 1 August 2012 |
| Payment | quarterly |
| Payment amount | $160.91 |
Amortization table for wall loan (the days per month are based on p'ment starting in June)
| Principle | Days | Daily rate | Int due | Payment | Principle paid |
|---|---|---|---|---|---|
| 2,540,000 | 30 | 0.000411 | 31,315 | 123,156 | -91,841 |
| 2,448,159 | 31 | 0.000411 | 31,189 | 123,156 | -91,967 |
| 2,356,192 | 31 | 0.000411 | 30,017 | 123,156 | -93,139 |
| 2,263,053 | 30 | 0.000411 | 27,901 | 123,156 | -95,255 |
| 2,167,797 | 31 | 0.000411 | 27,617 | 123,156 | -95,539 |
| 2,072,259 | 30 | 0.000411 | 25,548 | 123,156 | -97,608 |
| 1,974,651 | 31 | 0.000411 | 25,157 | 123,156 | -98,000 |
| 1,876,651 | 31 | 0.000411 | 23,908 | 123,156 | -99,248 |
| 1,777,403 | 28 | 0.000411 | 20,452 | 123,156 | -102,704 |
| 1,674,699 | 31 | 0.000411 | 21,335 | 123,156 | -101,821 |
| 1,572,879 | 30 | 0.000411 | 19,392 | 123,156 | -103,764 |
| 1,469,114 | 31 | 0.000411 | 18,716 | 123,156 | -104,440 |
| 1,364,674 | 30 | 0.000411 | 16,825 | 123,156 | -106,331 |
| 1,258,343 | 31 | 0.000411 | 16,031 | 123,156 | -107,125 |
| 1,151,218 | 31 | 0.000411 | 14,666 | 123,156 | -108,490 |
| 1,042,728 | 30 | 0.000411 | 12,856 | 123,156 | -110,301 |
| 932,427 | 31 | 0.000411 | 11,879 | 123,156 | -111,277 |
| 821,150 | 30 | 0.000411 | 10,124 | 123,156 | -113,032 |
| 708,118 | 31 | 0.000411 | 9,021 | 123,156 | -114,135 |
| 593,983 | 31 | 0.000411 | 7,567 | 123,156 | -115,589 |
| 478,394 | 28 | 0.000411 | 5,505 | 123,156 | -117,651 |
| 360,743 | 31 | 0.000411 | 4,596 | 123,156 | -118,560 |
| 242,182 | 30 | 0.000411 | 2,986 | 123,156 | -120,170 |
| 122,012 | 31 | 0.000411 | 1,554 | 123,156 | -121,602 |
| 410 | 416,156 |
The bottom 2 numbers are:
- 410 UGX that will still be due at the end of the term. That means the last payment will need t be 123,566 UGX.
- 416,156 is the total interest paid over the term of the loan. This can be reduced by paying additional amounts to principle when funds are available. For example, if you just round up the payment to 125,000 each month, you will reduce the interest paid to 409,178 and the final payment will only be 74,178.
All numbers are estimates until finalized by <Ned>
Page name: Wall Loan
Last editor: Mark Grimes (222)
Date: Tue, 15 Feb 2011 12:22:06 PST
Feedback score: 0
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