Problem & Solution
A group of sellers considers financing the sale price of a property for 82000 euros at 7% annual interest, amortized over a 30-year term with a balloon payment due after five years.
They want to know :
1. Amount of the monthly payment
2. Amount of interest they will receive
3. Remaining balance at the end of the term (balloon payment)
YouTube Link : https://youtu.be/79GsHHsvvKY
Filename: “C:\SystemF_SSD_Ext_3_2_2021\Documents\compute_payment_interest_and_loan_balance_after_a_specified_payment.xlsm”
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