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Background Fully amortizing loans are common in today's banking industry. Examples include this assignment in reference to home mortgages and car loans. Typically, a fully amortizing loan is one that calls for equal payments (annuity) throughout the life of the loan, while the loan balance is fully retired after the last payment. Each payment in this type of loan consists of interest (APR) and principal payments (PMT) as I am referring to your current assignment. In this particular assignment, you'll notice the two tables, one is titled One-Variable Data Table and the other is a Two-Variable Data Table. These tables are used to illustrate the loan payment breakdown, which would include the amount of interest and principal collectively with exemplifying the remaining balance after each payment. In effort to describe the two tables (-TABLE)..one-variable data table should point to the APR, while the other [-TABLE) should incorporate both the Cost of Home and the APR. Hope this helps to complete this assignment..as the development of the tables carry the must weight. Instructions . I would suggest reviewing the Chapter 6 in detail before attempting the assignment. This assignment requires a PMT, SUM. Subtraction, Multiplication, Division, and the utilization of developing Tables - both one-variable and two-variable data tables. Remove my name with your name at the Header Need to place a date function at the bottom of your spreadsheet Crain's Morgatage Calulator APR Input Area Cost of home Down Payment APR No. Years for Loan Payments Per Year $ 150,000.00 $ 10,000.00 4.00% 30 12 One-Variable Data Table: APR Calculated Results for Each APR Payment Total Repaid Total interest 4.00% $ 668.38 $ 240,617 31 $ 100,617,31 4.25% $ 688.72 $ 247,937.71 $ 107,937.71 4.50% $ 709.36 $ 255,369.40 $ 115,369.40 4.75% $ 730.31 $ 262,910.26 $ 122,910.26 5.00% $ 751.55 $ 270,558.10 $ 130,558.10 5.25% $ 773.09 $ 278,310.67 $ 138,310.67 5.50% $ 794.90 $ 286,165.66 $ 146,165.66 5.75% $ 817.00 $ 294,120.72 $ 154,120.72 6.00% $ 839.37 $ 302,173.46 $ 162,173.46 Output Area Amount of Loan Periodic Rate No. Payment Periods Monthly Payment Total to Repay Loan Total Interest Paid $ 140,000.00 0.33% 360 $ 668.38 $ 240,617.31 $ 100,617.31 Two-Variable Data Table: APR and Cost of Home Monthly Payment by Cost/APR APR $ 200,000.00 $ 225,000.00 $ 250,000.00 4.00% $ 907.09 $ 1,026.44 $ 1,145.80 4.25% $ 934.69 $ 1,057.67 $ 1,180.66 4.50% $ 962.70 $ 1,089.37 $ 1,216.04 4.75% $ 991.13 $ 1,121.54 $ 1,251.95 5.00% $ 1,019.96 $ 1.154.17 $ 1,288.37 5.25% $ 1,049.19 $ 1,187.24 $ 1,325.29 5.50% $ 1,078.80 $ 1,220.75 $ 1,362.69 5.75% $ 1,108.79 5 1,254.68 $ 1,400.57 6.00% $ 1,139.15 5 1.289.03 $ 1,438.92 6.25% $ 1,169.86 S 1,323.79 $ 1,477.72 6.50% $ 1,200.93 $ 1,358.95 $ 1,516.96 6.75% $ 1,232.34 $ 1,394.49 $ 1,556.64 7.00% $ 1,264.07 $ 1,430.40 $ 1,596.73 7.25% S 1,296.13 $ 1,466.68 $ 1,637.22 7.50% $ 1,328.51 $ 1,503.31 $ 1,678.11 7.75%6 $ 1,361.18 $ 1,540.29 $ 1,719.39 8.00% $ 1,394.15$ 1,577.59 $ 1,761.03 Note: Always replace my name with yours at the Top! This spreadsheet requires a Date Function! Calibri (Body) % Format as Table Paste BIU a. Av Number Cell Styles Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. F26 x x A B D E G H 1 1 Crain's Morgatage Calulator 3 Input Area 4 Cost of home 5 Down Payment 6 APR 7 No.Years for Loan 8 Payments Per Year $ 150,000.00 $ 10,000.00 4.00% 30 12 One-Variable Data Table: APR Calculated Results for Each APR APR Payment Total Repald Total interest 4.00% 4.25% 4.50% 4.75% 5.00% 5.25% 5.50% 5.75 6.00N 10 Output Area 11 Amount of Loan 12 Periodic Rate 13 No. Payment Periods 14 Monthly Payment 15 Total to Repay Loan 16 Total Interest Paid 17 Two-Variable Data Table: APR and Cost of Home Monthly Payment by Cost/APR APR $ 200,000.00 $ 225,000.00 $ 250,000.00 4.00% 4.25% 4.50% 4.75% 5.00% 5.25% 5.50% 5.75% 6.00M 6.25% 6.SON 6.75% 7.00N 7.25% 7.50% 7.75% 8.00% 19 20 21 22 23 24 25 26 Note: Always replace my name with yours at the Top! 27 This spreadsheet requires a Date Function! 28 HEREI 29 30
