Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with this Excel Assignment for creating a Loan Amortization schedule. https://www.youtube.com/watch?v=PlMvy2fnrQ0 (use this example as a template) 1. Create a loan amortization

image text in transcribed

I need help with this Excel Assignment for creating a Loan Amortization schedule.

image text in transcribed https://www.youtube.com/watch?v=PlMvy2fnrQ0 (use this example as a template) 1. Create a loan amortization schedule using Excel for a $15,000 car loan that will be repaid over 60 months at an annual interest rate of 6%. a. What is your monthly payment? b. What is the total amount of payments made over the life of the loan 2. Create a loan amortization schedule using Excel for an $180,000 mortgage that will be repaid over 30 years with monthly payments. The annual interest rate is 5.5%. a. What is your monthly payment? b. What is the total amount of payments made over the life of the loan? c. How many years will it take to pay off the loan if you pay an extra $100 per month

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Foundations Of Finance

Authors: Arthur J. Keown, John H. Martin, J. William Petty

10th Edition

0135160618, 978-0135160619

More Books

Students also viewed these Finance questions

Question

Define kaizen budgeting. lop8

Answered: 1 week ago