The data on a loan has been collected in the Microsoft Excel Online file below. Open...

 

Transcribed Image Text:

The data on a loan has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. X Open spreadsheet a. Complete an amortization schedule for a $12,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 6% compounded annually. Round all answers to the nearest cent. File C13 6 7 8 9 A 1 Amortization schedule 2 3 Loan amount to be repaid (PV) 4 Interest rate (r) 5 Length of loan (in years) 16 17 18 19 Home Insert 20 21 28 29 30 31 32 < a. Setting up amortization table Calculation of loan payment Formulas Year 1 2 3 Arial Year 1 2 3 Year 1 2 3 10 11 12 13 14 15 b. Calculating % of Payment Representing Interest and Principal for Each Year 8-23 Draw Year 1 Page Layout =Sheet1 + ✓10 v B B $12,000.00 6.00% 3 Beginning Balance Payment % Representing Interest 22 23 24 25 26 27 b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Payment % Representing Interest Representing Principal #N/A #N/A #N/A Beginning Balance #N/A #N/A #N/A Formulas Data Review #N/A #N/A #N/A Hv Formula #N/A Payment Payment % Representing Principal Αν Payment #N/A #N/A #N/A *** D Interest View Check: Total = 100% Interest #N/A #N/A #N/A Check: Total = 100% #N/A #N/A #N/A ab Automate ← E Merge Repayment of Principal Repayment of Principal #N/A #N/A #N/A Help Currency F Editing Remaining Balance Remaining Balance #N/A #N/A #N/A The data on a loan has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. X Open spreadsheet a. Complete an amortization schedule for a $12,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 6% compounded annually. Round all answers to the nearest cent. The data on a loan has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. X Open spreadsheet a. Complete an amortization schedule for a $12,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 6% compounded annually. Round all answers to the nearest cent. File C13 6 7 8 9 A 1 Amortization schedule 2 3 Loan amount to be repaid (PV) 4 Interest rate (r) 5 Length of loan (in years) 16 17 18 19 Home Insert 20 21 28 29 30 31 32 < a. Setting up amortization table Calculation of loan payment Formulas Year 1 2 3 Arial Year 1 2 3 Year 1 2 3 10 11 12 13 14 15 b. Calculating % of Payment Representing Interest and Principal for Each Year 8-23 Draw Year 1 Page Layout =Sheet1 + ✓10 v B B $12,000.00 6.00% 3 Beginning Balance Payment % Representing Interest 22 23 24 25 26 27 b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Payment % Representing Interest Representing Principal #N/A #N/A #N/A Beginning Balance #N/A #N/A #N/A Formulas Data Review #N/A #N/A #N/A Hv Formula #N/A Payment Payment % Representing Principal Αν Payment #N/A #N/A #N/A *** D Interest View Check: Total = 100% Interest #N/A #N/A #N/A Check: Total = 100% #N/A #N/A #N/A ab Automate ← E Merge Repayment of Principal Repayment of Principal #N/A #N/A #N/A Help Currency F Editing Remaining Balance Remaining Balance #N/A #N/A #N/A File C13 6 7 8 9 A 1 Amortization schedule 2 3 Loan amount to be repaid (PV) 4 Interest rate (r) 5 Length of loan (in years) 16 17 18 19 Home Insert 20 21 28 29 30 31 32 < a. Setting up amortization table Calculation of loan payment Formulas Year 1 2 3 Arial Year 1 2 3 Year 1 2 3 10 11 12 13 14 15 b. Calculating % of Payment Representing Interest and Principal for Each Year 8-23 Draw Year 1 Page Layout =Sheet1 + ✓10 v B B $12,000.00 6.00% 3 Beginning Balance Payment % Representing Interest 22 23 24 25 26 27 b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Payment % Representing Interest Representing Principal #N/A #N/A #N/A Beginning Balance #N/A #N/A #N/A Formulas Data Review #N/A #N/A #N/A Hv Formula #N/A Payment Payment % Representing Principal Αν Payment #N/A #N/A #N/A *** D Interest View Check: Total = 100% Interest #N/A #N/A #N/A Check: Total = 100% #N/A #N/A #N/A ab Automate ← E Merge Repayment of Principal Repayment of Principal #N/A #N/A #N/A Help Currency F Editing Remaining Balance Remaining Balance #N/A #N/A #N/A