B $ 400,000 Principal A 1 2 3 Loan Parameters 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 6.25% Annual Interest Rate 2/1/21 Date of First Payment 1 Term of Loan (Years) D F Amortization Schedule (Winter 2022) Regular Payment 34472.55223 $ 12 Number of Payments Per Year Extra Payment Every Period Date Beginning Balance Payment Number 1 2/1/21 $ 400,000 Interest G Loan Summary Information Regular Payment (P&I Only) Scheduled Number of Payments Normal Payoff Date Actual Number of Payments Actual Payoff Date Total of Extra Payments Total of All Interest Payments Principal 2,083.33 $ 32,389.22 Extra Payment H $34,472.55 12 Ending Balance 0$ 367,610.78 (15 points) This exercise let you practice your accounting and Excel knowledge/skill. You have recently taken a position in a bank. Your first client would like assistance planning for a loan. You want to set up a detailed loan amortization table. Open the attached Excel file LoanAmortization Winter 2022.xlsx. This file contains a worksheet with a loan parameters area (i.e., input section), a summary section, and an amortization table with column labels. You must use this template to complete a detailed loan amortization table and the summary section. Any other format of your amortization schedule will not be acceptable. You amortization table should be able to display the data for a loan up to 30 years. The data in the Summary section should be automatically changed when a user changes any value in the Input section. You should hide zeros from displaying if your client takes out a shorter-term loan or pay it off early. The Ending Balance cannot be negative values. In addition, you will notice overpayments on the last payment if you pay extra toward the principal each month. Add a header in the worksheet and place your name in the header. B $ 400,000 Principal A 1 2 3 Loan Parameters 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 6.25% Annual Interest Rate 2/1/21 Date of First Payment 1 Term of Loan (Years) D F Amortization Schedule (Winter 2022) Regular Payment 34472.55223 $ 12 Number of Payments Per Year Extra Payment Every Period Date Beginning Balance Payment Number 1 2/1/21 $ 400,000 Interest G Loan Summary Information Regular Payment (P&I Only) Scheduled Number of Payments Normal Payoff Date Actual Number of Payments Actual Payoff Date Total of Extra Payments Total of All Interest Payments Principal 2,083.33 $ 32,389.22 Extra Payment H $34,472.55 12 Ending Balance 0$ 367,610.78 (15 points) This exercise let you practice your accounting and Excel knowledge/skill. You have recently taken a position in a bank. Your first client would like assistance planning for a loan. You want to set up a detailed loan amortization table. Open the attached Excel file LoanAmortization Winter 2022.xlsx. This file contains a worksheet with a loan parameters area (i.e., input section), a summary section, and an amortization table with column labels. You must use this template to complete a detailed loan amortization table and the summary section. Any other format of your amortization schedule will not be acceptable. You amortization table should be able to display the data for a loan up to 30 years. The data in the Summary section should be automatically changed when a user changes any value in the Input section. You should hide zeros from displaying if your client takes out a shorter-term loan or pay it off early. The Ending Balance cannot be negative values. In addition, you will notice overpayments on the last payment if you pay extra toward the principal each month. Add a header in the worksheet and place your name in the header
