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I'm confused on this assignment, I'm not certain on what formulas on excel I need to use for this? Part 1: Loan Affordability Analysis Create
I'm confused on this assignment, I'm not certain on what formulas on excel I need to use for this?
Part 1: Loan Affordability Analysis Create a monthly payment table with changing interest rate and loan amount and allow users to change the term and affordable payment as below and use the conditional formatting to highlight the area of rate/loan that is affordable (less than or equal to the affordable payment) with green color and area that is not affordable with red color. A B D E F G 1 Term 2 Affordable payment 3 30 1600 Monthly Payment Table 4 5 Rate/Loan 6 7 8 9 10 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $50 $843.21 $1,054.01 $1,264.81 $1,475.61 $1,686.42 $1,897.22 $2,1 $870.41 $1,088.02 $1,305.62 $1,523.22 $1,740.83 $1,958.43 $2,1 $898.09 $1,122.61 $1,347.13 $1,571.66 $1,796.18 $2,020.70 $2,2 $926.23 $1,157.79 $1,389.35 $1,620.90 $1,852.46 $2,084.02 $2,3 $954.83 $1,193.54 $1,432.25 $1,670.95 $1,909.66 $2,148.37 $2,3 $983.88 $1,229.85 $1,475.82 $1,721.79 $1,967.76 $2,213.73 $2,4 $1,013.37 $1,266.71 $1,520.06 $1,773.40 $2,026.74 $2,280.08 $2,5 $1,043.29 $1,304.12 $1,564.94 $1,825.77 $2,086.59 $2,347.41 $2,6 $1,073.64 $1,342.05 $1,610.46 $1,878.88 $2,147.29 $2,415.70 $2,6 $1,104.41 $1,380.51 $1,656.61 $1,932.71 $2,208.81 $2,484.92 $2,7 $1,135.58 $1,419.47 $1,703.37 $1,987.26 $2,271.16 $2,555.05 $2,8 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50% 4.75% 5.00% 5.25% 5.50% 11 12 13 14 15 16Step by Step Solution
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