Now, think about a significant purchase that you have made in your life. Did you use data to help make an informed decision?

In this discussion, you'll use a spreadsheet to calculate data associated with financing the purchase of a car or a house. To get started, decide whether you want to buy a car or a house and then identify the item's cost and the expected interest rate. Use reliable sources to estimate the actual price in the area you expect to buy.

Download theSimple Loan Calculator and Amortization Table (XLSX).

download

In cell E3, add the expected cost of your car or house. In cell E4, enter the annual interest rate. Review the updated results in cells (E8-E11). Calculate the following for your selected scenario.

Car Scenario

• 6-year loan
• 3-year loan

MIn ONEN + X X CHENGPES E iSL A isL E C EE AS A HOS ONEGET GG GGbinBAS GN CS C erau.instructure.com/courses/131691/discussion_topics/2216967?module_item_id=7751474 G S R Update Apps New Tab BS Aeronautics: C... Wk 3: Quiz G Personal info & pr.. AA A mydailytips.net/d.. G Use or fix Flash au... X Watch TV Online,... Photo - Google P... Reading list STAT_211_M1_Dis_Loan_Calculator_Amort_Table.xIsx & Download Info X_Close 1 - ZOOM + Simple Loan Calculator Enter values Loan amount $ 35,000.00 Annual interest rate 5.50% Loan period in years Start date of loan 3/29/2021 Monthly payment $ 571.83 Number of payments 72 Total interest $ 6, 171.48 Total cost of loan 41, 171.48 Payment Beginning Ending No. Date Balance Payment Principal Interest Balance 4/29/2021 $ 35,000.00 $ 571.83 $ 411.41 $ 160.42 $ 34,588.59 5/29/2021 $ 34,588.59 $ 571.83 4 413.30 $ 158.53 34, 175.30 6/29/2021 $ 34, 175.30 $ 571.83 $ 415.19 $ 156.64 $ 33, 760.11 7/29/2021 $ 33, 760.11 $ 571.83 $ 417.09 $ 154.73 33,343.01 8/29/2021 $ 33,343.01 $ 571.83 419.00 152.82 32,924.01 9/29/2021 $ 32,924.01 $ 571.83 $ 420.92 150.90 32,503.09 10/29/2021 $ 32,503.09 $ 571.83 422.85 148.97 32,080.23 00 11/29/2021 $ 32,080.23 $ 571.83 424.79 147.03 TA TA TA 31,655.44 12/29/2021 $ 31,655.44 $ 571.83 426.74 $ 145.09 31,228.70 10 1/29/2022 $ 31,228.70 $ 571.83 428.69 $ 143.13 30,800.01 11 3/1/2022 $ 30,800.01 $ 571.83 $ 430.66 $ 141.17 30,369.35 12 3/29/2022 $ 30,369.35 $ 571.83 $ 432.63 $ 139. 19 29,936.71 13 4/29/2022 $ 29,936.71 $ 571.83 $ 434.62 $ 137.21 $ 29,502.10 14 5/29/2022 $ 29,502.10 $ 571.83 $ 436.61 $ 135.22 29,065.49 15 6/29/2022 $ 29,065.49 $ 571.83 $ 438.61 $ 133.22 $ 28,626.88 16 7/29/2022 $ 28,626.88 $ 571.83 $ 440.62 $ 131.21 $ 28, 186.26 17 8/29/2022 $ 28 186 26 $ 571 83 $ 442 64 $ 129 19 $ 27 743 62 O O 9 Pr W 25.C Cerah 4:48 PM E