Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mortgage calculation Excel worksheet: In column G calculate the mortgage rate using a function that evaluates credit score and displays the APR noted in cells

image text in transcribed

Mortgage calculation Excel worksheet: In column G calculate the mortgage rate using a function that evaluates credit score and displays the APR noted in cells C5:C6. If the credit score is low risk the customer pays 3.5% if not they pay 7.25%. Format the results with Percentage Number Format.

AutoSave 2 John MS100 Assignments PMTFV_Start Excel Scarch Lesauski, Justin File Home Insert Page Layout Formulas Data Review View Help Finess Data Share Comments . AutoSum Verdana 10 ~A A == 82 Wrap Text General M 27 X Out [Copy Paste * Format Painter Cipboard Insert Delete format Sensitivity BIU Merge Center Clear Conditional format as Cell Formatting Table Styles Styles Sort & Find & Filter Select Eding Analyze Data Font Alignment Number Cels Analysis Sersity K42 A B D H 1 Bulldog Mortgages 1 2 House Cos 982.00 Amount Financed Mortgage Rate 4 Down payment rate Mortgage APR 5 High risk down payment 15.00% Low risk down payment % 6 5.00% 3.504 7 Low risk cut off 450 R 9 Loan Credit Score Down Payment % Financed 10 740576 S 3R2 11 2751995 297,231.00 186 12 360425 359,085.00 543 12 269541 S 427,257.00 13/ 14 387508 $ 241.260.00 467 15 7384391 S 387,484.00 484 16 229761 $ 114,343.00 261 17 274363 287 208.00 515 19 345927 464.6111.00 235 19 323245 $ 257,570.00 569 333036 S 496,877.00 158 21 327395 S 349.955.00 605 22 348067 S 233,728.00 128 2091391 $ 228,983.00 652 24 236766 $ 209.085.00 571 75 301857 s 384,693.00 361 26 376626 $ 263,326.00 112 27 284862 352,905.00 475 214631 S 137,534.00 229 29 343404 5 103,195.00 670 30 31 32 You are wordng as a mortgage broker and have been given the task of creating a sprcadsheet to determine basic loan information for this months financed mortgages. Use the table below to complete the following tasks. 34 35 - In column write a function that automatically calculates the down payment required based on the credit score in

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

International Financial Management

Authors: Cheol S. Eun, Bruce G.Resnick

6th Edition

71316973, 978-0071316972, 78034655, 978-0078034657

More Books

Students also viewed these Finance questions

Question

How would you rate yourself against these criteria?

Answered: 1 week ago