Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have to instruct a a car amortization on excel. I know that I can use various functions on excel to calculate principle and interest.

image text in transcribed

I have to instruct a a car amortization on excel. I know that I can use various functions on excel to calculate principle and interest. I'm hoping I can get screenshots of what to key in on the different functions in excel and an explanation of how to get the full 60 months charted quickly.

Loan Amortization Schedule Jeep Cherokee Price Car Price Down payment Loan Amount 37,880 5,000 32,880 0.004166667 Interest 5.000% Term Monthly Payment Total Payment $620.49 $620.49 Month Beginning Interest Principle 0 no 0 OWN PMT $620.49 $620.49 $620.49 $620.49 $620.49 $620.49 $620.49 $620.49 $620.49 $620.49 $620.49 $620.49 $620.49 $620.49 $620 49 Additiona Ending Balance 32,397 31,911 0 31,423 30,934 30,442 29,949 0 286,992 0 285,096 0 283,191 281,276 0 279,352 0 277,418 0 275,475 0 273,522 271 559 0 29

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions