90000 is borrowed for 3 years If the interest on the loan is
$90,000 is borrowed for 3 years. If the interest on the loan is $17,747.97, find the monthly payment.
Solution
Principal amount = 90,000
No of years 33
Interest amount = 17747.97
EMI =?
Here interest rate is not given but principal and total interest, period are given.
Calculating we get the above table values as
Monthly Payment = 299.3
Month Balance Principal Interest Payment Total Interest
1 89793.34 206.66 92.64 299.3 92.64
2 89586.46 206.88 92.42 598.6 185.06
3 89379.37 207.09 92.21 897.9 277.27
4 89172.07 207.3 92 1197.2 369.27
5 88964.56 207.51 91.79 1496.5 461.06
6 88756.83 207.73 91.57 1795.8 552.63
7 88548.89 207.94 91.36 2095.1 643.99
8 88340.73 208.16 91.14 2394.4 735.13
9 88132.36 208.37 90.93 2693.7 826.06
10 87923.78 208.58 90.72 2993 916.78
11 87714.98 208.8 90.5 3292.3 1007.28
12 87505.96 209.01 90.29 3591.6 1097.56
13 87296.73 209.23 90.07 3890.9 1187.63
14 87087.29 209.44 89.85 4190.2 1277.49
15 86877.63 209.66 89.64 4489.5 1367.13
16 86667.75 209.88 89.42 4788.8 1456.55
17 86457.66 210.09 89.21 5088.1 1545.76
18 86247.35 210.31 88.99 5387.4 1634.75
19 86036.82 210.53 88.77 5686.7 1723.52
20 85826.08 210.74 88.56 5986 1812.08
21 85615.12 210.96 88.34 6285.3 1900.42
22 85403.95 211.18 88.12 6584.6 1988.55
23 85192.55 211.39 87.91 6883.9 2076.45
24 84980.94 211.61 87.69 7183.2 2164.14
25 84769.12 211.83 87.47 7482.5 2251.61
26 84557.07 212.05 87.25 7781.8 2338.87
27 84344.8 212.26 87.03 8081.1 2425.9
28 84132.32 212.48 86.82 8380.4 2512.72
29 83919.62 212.7 86.6 8679.7 2599.32
30 83706.7 212.92 86.38 8979 2685.69
31 83493.56 213.14 86.16 9278.3 2771.85
32 83280.2 213.36 85.94 9577.6 2857.79
33 83066.62 213.58 85.72 9876.9 2943.52
34 82852.82 213.8 85.5 10176.2 3029.02
35 82638.8 214.02 85.28 10475.5 3114.3
36 82424.56 214.24 85.06 10774.8 3199.36
37 82210.1 214.46 84.84 11074.1 3284.2
38 81995.42 214.68 84.62 11373.4 3368.82
39 81780.52 214.9 84.4 11672.7 3453.21
40 81565.39 215.12 84.18 11972 3537.39
41 81350.05 215.34 83.96 12271.3 3621.35
42 81134.48 215.57 83.73 12570.6 3705.08
43 80918.7 215.79 83.51 12869.9 3788.59
44 80702.69 216.01 83.29 13169.2 3871.88
45 80486.45 216.23 83.07 13468.5 3954.95
46 80270 216.45 82.85 13767.8 4037.8
47 80053.32 216.68 82.62 14067.1 4120.42
48 79836.42 216.9 82.4 14366.4 4202.82
49 79619.3 217.12 82.18 14665.7 4284.99
50 79401.95 217.35 81.95 14965 4366.95
51 79184.38 217.57 81.73 15264.3 4448.68
52 78966.58 217.8 81.5 15563.6 4530.18
53 78748.56 218.02 81.28 15862.9 4611.46
54 78530.32 218.24 81.06 16162.2 4692.52
55 78311.85 218.47 80.83 16461.5 4773.35
56 78093.16 218.69 80.61 16760.8 4853.96
57 77874.24 218.92 80.38 17060.1 4934.34
58 77655.1 219.14 80.16 17359.4 5014.49
59 77435.73 219.37 79.93 17658.7 5094.42
60 77216.13 219.59 79.7 17958 5174.13
61 76996.31 219.82 79.48 18257.3 5253.61
62 76776.27 220.05 79.25 18556.6 5332.86
63 76555.99 220.27 79.03 18855.9 5411.89
64 76335.49 220.5 78.8 19155.2 5490.69
65 76114.76 220.73 78.57 19454.5 5569.26
66 75893.81 220.95 78.35 19753.8 5647.6
67 75672.63 221.18 78.12 20053.09 5725.72
68 75451.22 221.41 77.89 20352.39 5803.61
69 75229.58 221.64 77.66 20651.69 5881.27
70 75007.71 221.87 77.43 20950.99 5958.71
71 74785.62 222.09 77.21 21250.29 6035.91
72 74563.3 222.32 76.98 21549.59 6112.89
73 74340.75 222.55 76.75 21848.89 6189.64
74 74117.96 222.78 76.52 22148.19 6266.16
75 73894.95 223.01 76.29 22447.49 6342.45
76 73671.72 223.24 76.06 22746.79 6418.51
77 73448.25 223.47 75.83 23046.09 6494.34
78 73224.55 223.7 75.6 23345.39 6569.94
79 73000.62 223.93 75.37 23644.69 6645.31
80 72776.46 224.16 75.14 23943.99 6720.45
81 72552.07 224.39 74.91 24243.29 6795.36
82 72327.44 224.62 74.68 24542.59 6870.04
83 72102.59 224.85 74.45 24841.89 6944.49
84 71877.51 225.08 74.22 25141.19 7018.7
85 71652.19 225.32 73.98 25440.49 7092.68
86 71426.64 225.55 73.75 25739.79 7166.44
87 71200.86 225.78 73.52 26039.09 7239.96
88 70974.85 226.01 73.29 26338.39 7313.24
89 70748.6 226.25 73.05 26637.69 7386.3
90 70522.13 226.48 72.82 26936.99 7459.12
91 70295.42 226.71 72.59 27236.29 7531.71
92 70068.47 226.94 72.36 27535.59 7604.06
93 69841.29 227.18 72.12 27834.89 7676.19
94 69613.88 227.41 71.89 28134.19 7748.07
95 69386.24 227.65 71.65 28433.49 7819.73
96 69158.35 227.88 71.42 28732.79 7891.15
97 68930.24 228.11 71.19 29032.09 7962.33
98 68701.89 228.35 70.95 29331.39 8033.28
99 68473.31 228.58 70.72 29630.69 8104
100 68244.49 228.82 70.48 29929.99 8174.48
101 68015.43 229.06 70.24 30229.29 8244.72
102 67786.14 229.29 70.01 30528.59 8314.73
103 67556.61 229.53 69.77 30827.89 8384.5
104 67326.85 229.76 69.54 31127.19 8454.04
105 67096.85 230 69.3 31426.49 8523.34
106 66866.61 230.24 69.06 31725.79 8592.4
107 66636.14 230.47 68.83 32025.09 8661.23
108 66405.43 230.71 68.59 32324.39 8729.82
109 66174.48 230.95 68.35 32623.69 8798.17
110 65943.29 231.19 68.11 32922.99 8866.28
111 65711.87 231.42 67.88 33222.29 8934.16
112 65480.2 231.66 67.64 33521.59 9001.8
113 65248.3 231.9 67.4 33820.89 9069.19
114 65016.16 232.14 67.16 34120.19 9136.36
115 64783.79 232.38 66.92 34419.49 9203.28
116 64551.17 232.62 66.68 34718.79 9269.96
117 64318.31 232.86 66.44 35018.09 9336.4
118 64085.21 233.1 66.2 35317.39 9402.6
119 63851.88 233.34 65.96 35616.69 9468.57
120 63618.3 233.58 65.72 35915.99 9534.29
121 63384.48 233.82 65.48 36215.29 9599.77
122 63150.42 234.06 65.24 36514.59 9665.02
123 62916.13 234.3 65 36813.89 9730.02
124 62681.59 234.54 64.76 37113.19 9794.78
125 62446.8 234.78 64.52 37412.49 9859.3
126 62211.78 235.02 64.28 37711.79 9923.57
127 61976.52 235.27 64.03 38011.09 9987.61
128 61741.01 235.51 63.79 38310.39 10051.4
129 61505.26 235.75 63.55 38609.69 10114.95
130 61269.27 235.99 63.31 38908.99 10178.26
131 61033.03 236.24 63.06 39208.29 10241.32
132 60796.55 236.48 62.82 39507.59 10304.14
133 60559.83 236.72 62.58 39806.89 10366.72
134 60322.87 236.97 62.33 40106.19 10429.06
135 60085.66 237.21 62.09 40405.49 10491.15
136 59848.2 237.45 61.85 40704.79 10552.99
137 59610.51 237.7 61.6 41004.09 10614.6
138 59372.56 237.94 61.36 41303.39 10675.95
139 59134.38 238.19 61.11 41602.69 10737.07
140 58895.94 238.43 60.87 41901.99 10797.93
141 58657.27 238.68 60.62 42201.29 10858.55
142 58418.34 238.92 60.38 42500.59 10918.93
143 58179.17 239.17 60.13 42799.89 10979.06
144 57939.76 239.42 59.88 43099.19 11038.94
145 57700.09 239.66 59.64 43398.49 11098.58
146 57460.18 239.91 59.39 43697.79 11157.97
147 57220.03 240.16 59.14 43997.09 11217.12
148 56979.63 240.4 58.9 44296.39 11276.01
149 56738.98 240.65 58.65 44595.69 11334.66
150 56498.08 240.9 58.4 44894.99 11393.07
151 56256.93 241.15 58.15 45194.29 11451.22
152 56015.54 241.39 57.91 45493.59 11509.12
153 55773.89 241.64 57.66 45792.89 11566.78
154 55532 241.89 57.41 46092.19 11624.19
155 55289.86 242.14 57.16 46391.49 11681.35
156 55047.47 242.39 56.91 46690.79 11738.26
157 54804.83 242.64 56.66 46990.09 11794.92
158 54561.94 242.89 56.41 47289.39 11851.33
159 54318.8 243.14 56.16 47588.69 11907.49
160 54075.41 243.39 55.91 47887.99 11963.4
161 53831.77 243.64 55.66 48187.29 12019.06
162 53587.88 243.89 55.41 48486.59 12074.47
163 53343.74 244.14 55.16 48785.89 12129.63
164 53099.35 244.39 54.91 49085.19 12184.54
165 52854.7 244.64 54.66 49384.49 12239.19
166 52609.81 244.9 54.4 49683.79 12293.6
167 52364.66 245.15 54.15 49983.09 12347.75
168 52119.26 245.4 53.9 50282.39 12401.65
169 51873.61 245.65 53.65 50581.69 12455.29
170 51627.7 245.91 53.39 50880.99 12508.69
171 51381.54 246.16 53.14 51180.29 12561.83
172 51135.13 246.41 52.89 51479.59 12614.72
173 50888.46 246.67 52.63 51778.89 12667.35
174 50641.54 246.92 52.38 52078.19 12719.73
175 50394.37 247.17 52.13 52377.49 12771.85
176 50146.94 247.43 51.87 52676.79 12823.73
177 49899.25 247.68 51.62 52976.09 12875.34
178 49651.32 247.94 51.36 53275.39 12926.7
179 49403.12 248.19 51.11 53574.69 12977.81
180 49154.67 248.45 50.85 53873.99 13028.66
181 48905.97 248.7 50.6 54173.29 13079.26
182 48657.01 248.96 50.34 54472.59 13129.59
183 48407.79 249.22 50.08 54771.89 13179.68
184 48158.32 249.47 49.83 55071.19 13229.5
185 47908.59 249.73 49.57 55370.49 13279.07
186 47658.6 249.99 49.31 55669.79 13328.39
187 47408.36 250.24 49.06 55969.09 13377.44
188 47157.85 250.5 48.8 56268.39 13426.24
189 46907.09 250.76 48.54 56567.69 13474.78
190 46656.07 251.02 48.28 56866.99 13523.06
191 46404.8 251.28 48.02 57166.29 13571.08
192 46153.26 251.54 47.76 57465.59 13618.85
193 45901.47 251.79 47.51 57764.89 13666.35
194 45649.42 252.05 47.25 58064.19 13713.6
195 45397.1 252.31 46.99 58363.49 13760.59
196 45144.53 252.57 46.73 58662.79 13807.32
197 44891.7 252.83 46.47 58962.09 13853.78
198 44638.6 253.09 46.21 59261.39 13899.99
199 44385.25 253.35 45.95 59560.68 13945.94
200 44131.64 253.61 45.69 59859.98 13991.62
201 43877.76 253.88 45.42 60159.28 14037.05
202 43623.63 254.14 45.16 60458.58 14082.21
203 43369.23 254.4 44.9 60757.88 14127.11
204 43114.57 254.66 44.64 61057.18 14171.75
205 42859.65 254.92 44.38 61356.48 14216.13
206 42604.46 255.18 44.12 61655.78 14260.25
207 42349.02 255.45 43.85 61955.08 14304.1
208 42093.31 255.71 43.59 62254.38 14347.69
209 41837.33 255.97 43.33 62553.68 14391.02
210 41581.1 256.24 43.06 62852.98 14434.08
211 41324.6 256.5 42.8 63152.28 14476.88
212 41067.83 256.76 42.54 63451.58 14519.42
213 40810.8 257.03 42.27 63750.88 14561.69
214 40553.51 257.29 42.01 64050.18 14603.69
215 40295.95 257.56 41.74 64349.48 14645.44
216 40038.13 257.82 41.48 64648.78 14686.91
217 39780.04 258.09 41.21 64948.08 14728.12
218 39521.69 258.35 40.95 65247.38 14769.07
219 39263.07 258.62 40.68 65546.68 14809.75
220 39004.18 258.89 40.41 65845.98 14850.16
221 38745.03 259.15 40.15 66145.28 14890.31
222 38485.61 259.42 39.88 66444.58 14930.19
223 38225.92 259.69 39.61 66743.88 14969.8
224 37965.97 259.95 39.35 67043.18 15009.15
225 37705.75 260.22 39.08 67342.48 15048.23
226 37445.26 260.49 38.81 67641.78 15087.04
227 37184.5 260.76 38.54 67941.08 15125.58
228 36923.47 261.03 38.27 68240.38 15163.86
229 36662.18 261.29 38.01 68539.68 15201.86
230 36400.62 261.56 37.74 68838.98 15239.6
231 36138.78 261.83 37.47 69138.28 15277.07
232 35876.68 262.1 37.2 69437.58 15314.26
233 35614.31 262.37 36.93 69736.88 15351.19
234 35351.67 262.64 36.66 70036.18 15387.85
235 35088.75 262.91 36.39 70335.48 15424.24
236 34825.57 263.18 36.12 70634.78 15460.35
237 34562.12 263.45 35.85 70934.08 15496.2
238 34298.39 263.72 35.57 71233.38 15531.77
239 34034.4 264 35.3 71532.68 15567.08
240 33770.13 264.27 35.03 71831.98 15602.11
241 33505.59 264.54 34.76 72131.28 15636.87
242 33240.78 264.81 34.49 72430.58 15671.36
243 32975.69 265.09 34.21 72729.88 15705.57
244 32710.33 265.36 33.94 73029.18 15739.51
245 32444.7 265.63 33.67 73328.48 15773.18
246 32178.8 265.9 33.4 73627.78 15806.58
247 31912.62 266.18 33.12 73927.08 15839.7
248 31646.17 266.45 32.85 74226.38 15872.55
249 31379.44 266.73 32.57 74525.68 15905.12
250 31112.44 267 32.3 74824.98 15937.42
251 30845.16 267.28 32.02 75124.28 15969.44
252 30577.61 267.55 31.75 75423.58 16001.19
253 30309.79 267.83 31.47 75722.88 16032.67
254 30041.68 268.1 31.2 76022.18 16063.87
255 29773.31 268.38 30.92 76321.48 16094.79
256 29504.65 268.65 30.65 76620.78 16125.43
257 29235.72 268.93 30.37 76920.08 16155.8
258 28966.51 269.21 30.09 77219.38 16185.9
259 28697.03 269.48 29.82 77518.68 16215.71
260 28427.27 269.76 29.54 77817.98 16245.25
261 28157.23 270.04 29.26 78117.28 16274.51
262 27886.91 270.32 28.98 78416.58 16303.49
263 27616.32 270.6 28.7 78715.88 16332.2
264 27345.44 270.87 28.43 79015.18 16360.62
265 27074.29 271.15 28.15 79314.48 16388.77
266 26802.86 271.43 27.87 79613.78 16416.64
267 26531.14 271.71 27.59 79913.08 16444.22
268 26259.15 271.99 27.31 80212.38 16471.53
269 25986.88 272.27 27.03 80511.68 16498.56
270 25714.33 272.55 26.75 80810.98 16525.31
271 25441.5 272.83 26.47 81110.28 16551.78
272 25168.38 273.11 26.19 81409.58 16577.96
273 24894.99 273.39 25.91 81708.88 16603.87
274 24621.32 273.68 25.62 82008.18 16629.49
275 24347.36 273.96 25.34 82307.48 16654.84
276 24073.12 274.24 25.06 82606.78 16679.9
277 23798.6 274.52 24.78 82906.08 16704.68
278 23523.79 274.8 24.5 83205.38 16729.17
279 23248.71 275.09 24.21 83504.68 16753.39
280 22973.34 275.37 23.93 83803.98 16777.32
281 22697.68 275.65 23.65 84103.28 16800.96
282 22421.75 275.94 23.36 84402.58 16824.33
283 22145.53 276.22 23.08 84701.88 16847.4
284 21869.02 276.51 22.79 85001.18 16870.2
285 21592.23 276.79 22.51 85300.48 16892.71
286 21315.16 277.07 22.22 85599.78 16914.93
287 21037.8 277.36 21.94 85899.08 16936.87
288 20760.15 277.65 21.65 86198.38 16958.53
289 20482.22 277.93 21.37 86497.68 16979.9
290 20204 278.22 21.08 86796.98 17000.98
291 19925.5 278.5 20.8 87096.28 17021.77
292 19646.71 278.79 20.51 87395.58 17042.28
293 19367.63 279.08 20.22 87694.88 17062.51
294 19088.26 279.36 19.94 87994.18 17082.44
295 18808.61 279.65 19.65 88293.48 17102.09
296 18528.67 279.94 19.36 88592.78 17121.45
297 18248.44 280.23 19.07 88892.08 17140.52
298 17967.93 280.52 18.78 89191.38 17159.3
299 17687.12 280.81 18.49 89490.68 17177.8
300 17406.03 281.09 18.21 89789.98 17196
301 17124.64 281.38 17.92 90089.28 17213.92
302 16842.97 281.67 17.63 90388.58 17231.55
303 16561.01 281.96 17.34 90687.88 17248.88
304 16278.75 282.25 17.05 90987.18 17265.93
305 15996.21 282.54 16.76 91286.48 17282.69
306 15713.37 282.83 16.46 91585.78 17299.15
307 15430.25 283.13 16.17 91885.08 17315.32
308 15146.83 283.42 15.88 92184.38 17331.21
309 14863.12 283.71 15.59 92483.68 17346.8
310 14579.12 284 15.3 92782.98 17362.1
311 14294.83 284.29 15.01 93082.28 17377.1
312 14010.24 284.59 14.71 93381.58 17391.82
313 13725.36 284.88 14.42 93680.88 17406.24
314 13440.19 285.17 14.13 93980.18 17420.36
315 13154.72 285.47 13.83 94279.48 17434.2
316 12868.96 285.76 13.54 94578.78 17447.74
317 12582.91 286.05 13.25 94878.08 17460.98
318 12296.56 286.35 12.95 95177.38 17473.94
319 12009.92 286.64 12.66 95476.68 17486.59
320 11722.98 286.94 12.36 95775.98 17498.96
321 11435.75 287.23 12.07 96075.28 17511.02
322 11148.22 287.53 11.77 96374.58 17522.79
323 10860.39 287.83 11.47 96673.88 17534.27
324 10572.27 288.12 11.18 96973.18 17545.45
325 10283.85 288.42 10.88 97272.48 17556.33
326 9995.14 288.71 10.59 97571.78 17566.91
327 9706.13 289.01 10.29 97871.08 17577.2
328 9416.82 289.31 9.99 98170.38 17587.19
329 9127.21 289.61 9.69 98469.68 17596.88
330 8837.3 289.91 9.39 98768.98 17606.28
331 8547.1 290.2 9.1 99068.28 17615.38
332 8256.6 290.5 8.8 99367.57 17624.17
333 7965.8 290.8 8.5 99666.87 17632.67
334 7674.7 291.1 8.2 99966.17 17640.87
335 7383.3 291.4 7.9 100265.47 17648.77
336 7091.6 291.7 7.6 100564.77 17656.37
337 6799.6 292 7.3 100864.07 17663.67
338 6507.29 292.3 7 101163.37 17670.67
339 6214.69 292.6 6.7 101462.67 17677.37
340 5921.79 292.9 6.4 101761.97 17683.76
341 5628.58 293.2 6.1 102061.27 17689.86
342 5335.08 293.51 5.79 102360.57 17695.65
343 5041.27 293.81 5.49 102659.87 17701.14
344 4747.16 294.11 5.19 102959.17 17706.33
345 4452.75 294.41 4.89 103258.47 17711.22
346 4158.03 294.72 4.58 103557.77 17715.8
347 3863.01 295.02 4.28 103857.07 17720.08
348 3567.68 295.32 3.98 104156.37 17724.06
349 3272.06 295.63 3.67 104455.67 17727.73
350 2976.12 295.93 3.37 104754.97 17731.1
351 2679.89 296.24 3.06 105054.27 17734.16
352 2383.35 296.54 2.76 105353.57 17736.92
353 2086.5 296.85 2.45 105652.87 17739.37
354 1789.35 297.15 2.15 105952.17 17741.52
355 1491.89 297.46 1.84 106251.47 17743.36
356 1194.13 297.76 1.54 106550.77 17744.9
357 896.05 298.07 1.23 106850.07 17746.13
358 597.68 298.38 0.92 107149.37 17747.05
359 298.99 298.68 0.62 107448.67 17747.67
360 0 298.99 0.31 107747.97 17747.97
Hence monthly payment = 299.30
and interest rate = 1.2351655% p.a.
Note: Here interest is taken as compounding annually.






