Thanks for the clarification. However, when i worked it out on excel, i got a total interest and loan repayment of $4552.37. I added the accured cashflow of 701.79 and reduced the 1st interest payment and got the accrued cashflow minus pending loans after the 1st year. I think we get the same answer but different way to get there.
Is your 1st loan interest number changes from 85.54 to 85.64? Is this a error? appreciate confirmation.
Is your loan period for 11 years or 10 years?
One final question: