truck price $40,000.

00
percent down 15.00%
APR 1.00%
pmt/yr 12
yr 2

amount down $6,000.00

amount loan $34,000.00
monthly deposit $247.61

savings schedule PMT # $ PMT # $ INT $ BAL

0
1 $247.61 $0.00 $247.61
12 $247.61 $2.28 $2,985.01
24 $247.61 $4.79 $6,000.00

$5,942.70 $57.30

deposit total $5,942.70 $5,942.70

interest $ earned $57.30
interest % of the total $ earned 0.9642%
interest % earned is less than what was expected
 loan amount $34,000.00
APR 2.25%
pmt/yr 12
yr 5

monthly pmt $599.67

PMT # PMT $ $ INT PD $ PRINC PD

0 0 0 0
1 $599.67 $63.75 $535.92
12 $599.67 $52.59 $547.08
24 $599.67 $40.16 $559.51
36 $599.67 $27.44 $572.23
48 $599.67 $14.43 $585.24
60 $599.67 $1.12 $598.55

$35,980.18 $1,980.18 $34,000.00

principle paid $34,000.00

interest paid $1,980.18
total paid with 60 pmt $35,980.18
total % of interest paid 5.82%
$ BAL
$34,000.00
$33,464.08
$27,502.23
$20,856.74
$14,060.17
$7,109.10
$0.00
 loan amount 250,000.00
percent down 20.00%
APR 1.50%
pmt/yr 12
yr 3

amount down $50,000.00

amount loan $200,000.00
monthly pymt $1,358.74

savings schedule PMT # PMT $ $ INT PD $ BAL

1 $1,358.74 $0.00 $1,358.74

12 $1,358.74 $18.80 $16,417.46
24 $1,358.74 $39.61 $33,082.87
36 $1,358.74 $60.73 $50,000.00

$48,914.68 $1,085.32

total deposit $48,914.64

interest earned $1,085.32
interest % earned 2.21%
interest % earned is higher than expected
Part I -A consumer earned less interest, because the savings was $,5942.7 in a 2 yr term vs
Part II-A consumer earned a lot more interest at a higher % rate, because more $ was deposited for 1 yr longer
for 1 yr longer
 loan amount $200,000.00
APR 3.75%
pmt/yr 12
yr 30

monthly pmt $926.23

PMT # PMT $ $ INT PD $ PRINC PD

0 0 0 0
1 $926.23 $625.00 $301.23
12 $926.23 $614.48 $311.75
60 $926.23 $564.11 $362.12
120 $926.23 $489.56 $436.67
240 $926.23 $291.25 $634.98
360 $926.23 $2.89 $923.35

$333,443.23 $133,443.23 $200,000.00

principle paid $200,000.00

interest paid $133,443.23
pymt of 360 total $ $333,443.23
% of interest for the total amount of the loan 66.71%
In part II-A consumer paid less on interest because the loan was $34,000.00 (5 yr period) vs
In part II-B consumer paid more interest because the loan was $200,000.00 (30 yr period).
When the loan $ is larger, with longer payment periods, consumer will pay more out of pocket for interest payments, until the lo
 $ BAL
$200,000.00
$199,698.77
$196,322.45
$180,154.63
$156,223.55
$92,566.43
$0.00

of pocket for interest payments, until the loan is paid off.