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Excel formula please EXCEL FORMULA PLEASE You have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year mortgage with monthly
Excel formula please
You have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $800,000. The mortgage is currently exactly 181/2 years old, and you bave just made a payment. If the interest rate on the mortgage is 5.25% (APR), how much cash will you have from the sale once you pay off the mortgage? Complete the steps below using cell references to given data or prowious calculations. In some cases, a simple aell reference is all you need. To copy paste a formula across a row or down a column, an absolute cell reference or a mixed oell reference may be preferred. If a speafic Excel function is to be used, the directions will spocify the use of that function. Do not type in mumerical data into a cell or function. Insiead, make a rfforence to the cell in which the data is found. Make your computations only in the blue colls highlighied below. In all cases, unless otherwise directed, wse the carliest appearance of the data in your formulas, wsually the Given Data section. 1 In cell D13, by using cell references, calculate the discount rate (1 pt.). 2 In cell D14, by using cell references, calculate the monthly payment ( 1pt ). Note: For the nper parameter, use cells D8 and D9. 3 In cell D15, by using eell references, calculate the number of periods remaining on the loan (1pt). 4 In cell D16, by using cell references, calculate the amount that you owe on the mortgage (I pt). 5 In cell D17, by using cell references, calculate the amount that you will have from the sale of your home after paying off the mortgage (1pt ) EXCEL FORMULA PLEASE
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