Question
Part 1: For this assignment it is important that the final product is linked to your original input cells. For example, if I change the
Part 1: For this assignment it is important that the final product is linked to your original input cells. For example, if I change the interest rate or down payment amount in your inputs, all of the outputs should change automatically. We are purchasing a $250,000.00 house using a down payment that's equivalent to 20% of the value, and will be financing the balance. The loan will be for 15 years, at 4.5% with monthly payments.
Have excel calculate the exact date that the loan pays off if you change the amount of the 'extra' payment. The goal is to have a payoff date calculate next to your inputs so that a change in the inputs will change the payoff date automatically
Create a graph that shows a horizontal line representing the mortgage payment. On that graph include a second line that represents the proportion of the payment that is interest. For example, if your mortgage payment was $800.00, and $533.33 of the 37th payment was covering the interest, the second line should be about 2/3 of the way from zero to the line for the mortgage payment at the 37th payment. To do this, you'll likely want to use the X-Y scatter plot and include two series on the primary axis. (This is the part I need help with)
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