SPREADSHEET DESCRIPTIONS AND INSTRUCTIONS

We can calculate the total payment in each of the remaining years by preparing a amortization schedule as follows: Year Beginning balance Total payment Interest paid Principle paid Ending balance 1 R2 000 R680 R180 R500 R1 500 2 R1 500 R635 R135 R500 R1 000 3 R1 000 R590 R90 R500 R500 4 R500 R545 R45 R500 0 Totals R2 450 R450 R2 000 ................
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