Question 1195619
your answers using the calculator at <a href = "https://arachnoid.com/finance/" target = "_blank">https://arachnoid.com/finance/</a> are:


<img src = "http://theo.x10hosting.com/2022/080701.jpg">


<img src = "http://theo.x10hosting.com/2022/080702.jpg">


<img src = "http://theo.x10hosting.com/2022/080703.jpg">


the same answers using an excel spreadsheet are:


<img src = "http://theo.x10hosting.com/2022/080704.jpg">


<img src = "http://theo.x10hosting.com/2022/080705.jpg">


<img src = "http://theo.x10hosting.com/2022/080706.jpg">


the procedure using the calculator is as follows:


first you want to find the future value of monthly payments of 150 at 8% compounded monthly for 60 months (5 years).
that value is 11021.53.


next you want to find the future value of that amount at 8% compounded monthly for 300 months (25 years).
that value is 80899.97.


next you want to find the future value of monthly payments of 150 at 8% compounded monthly for 300 months (25 years).
that value is 142653.96.


the excel spreadsheet does the same calculations month by month.


column A shows the end of month indicated.
column B shows the remaining balance of the first calculation which is 60 months of 150.
column C shows the remaining balance of the results from column B being brought forward for an additional 300 months with no additional payments.
column D shows the remaining balance of monthly payments of 150 for 300 months.


let me know is you have any questions.
theo