Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribedI'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 16

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

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

Recommended Textbook for

Auditing Essentials

Authors: Frank C Giove

1st Edition

0738671509, 9780738671505

More Books

Students also viewed these Accounting questions

Question

Do you suggest Lisa use a PEO? Why?

Answered: 1 week ago