Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

is this the correct formula to find the required monthly payments? Also, for the 2nd picture, where do i put an excel formula in so

is this the correct formula to find the required monthly payments? Also, for the 2nd picture, where do i put an excel formula in so that the sheet will automatically fill out? its over a 100 months long and I am required to solve using excel.
image text in transcribed
image text in transcribed
Is this the correct formula to find the required
monthly payments? Also, for the chart picture, where
do i put an excel formula in so that the sheet will
automatically fill out? its over a 100 months long
and I am required to solve using excel.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Amount Borrowed: Interest Rate: Compute the monthly payments! Medule 1 troblems - Amortisation Schedule Problese 1 - Fieste complete the Amartiatios Schodule beiour oing the indormation even Po Paucity buitey Steps for creating an Ameetization Schedule. Finstructions can also be found Step 1: Compute the Monthly Payments using the PMT form Step 2: Compute the payment interest: =Monthly beginnin Step 3: Compute the payment principals =Monthly paymen Step 4: Compute the end balance: =Monthly beminning bal Nece The end balance does not inckude the interest, becoute if inps The princigal alreody repsid is zilled off" Amount Borrowed: Interest Rate: Term: Required h=PMT(0.0375,84,58769,0) compurotiveriomtonypayments: "Note You must complete the whole table, but you will only be graded on the first two periods (blue cells)

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

Emotions In Finance Booms Busts And Uncertainty

Authors: Jocelyn Pixley

2nd Edition

1107633370, 978-1107633377

More Books

Students also viewed these Finance questions

Question

Describe computer-aided dispatch technology

Answered: 1 week ago