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Category > Business & Finance Posted 02 Jun 2017 My Price 12.00

Messineo LLC

Messineo LLC borrowed $15,000 at a 14% annual rate of interest to be repaid over 3 years. The loan is amortized into three equal annual end of year payments. As the CFO of Messineo, LLC you must prepare a report of the pertinent information in a short summary for the CEO.

 

  1. Calculate the annual end of year loan payment amount.
  2. Prepare a loan amortization schedule showing the interest and principal break down of each of the three loan payments.
  3. Prepare a one page executive summary for the CEO, Linda Messineo,with the loan payment schedule explaining why the interest portion of each payment declines with the passage of time.

 

Also, be sure to remind her that the interest portion of the loan payment is tax deductible. You should include your spreadsheet as an appendix to your executive summary to prove your figures in the loan payment schedule.

 

Hint: Using a spreadsheet, you will start with the PMT function to calculate the annual payment. Next you will use the IPMT function to find the interest portion for each of the three years.

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Alpha Geek
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Status NEW Posted 02 Jun 2017 05:06 PM My Price 12.00

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Attachments

file 1496424303-messineo_llc_2.xlsx preview (21 words )
Ye-----------ar -----------Ann-----------uit-----------y( ----------- c)-----------Int-----------ere-----------st(-----------e)*-----------15%-----------Pri-----------nci-----------pal----------- (-----------d)R-----------ema-----------ini-----------ng -----------Bal-----------anc-----------e -----------( e----------- )=----------- (b-----------)-(-----------d)1-----------. T-----------he -----------equ-----------al -----------ann-----------ual----------- l-----------oan----------- pa-----------yme-----------nt -----------usi-----------ng -----------PMT----------- fu-----------nct-----------ion-----------: -----------
file 1496424306-messineo_llc_2.docx preview (365 words )
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