Question
PLEASE, SOMEONE, HELP FINDING THE FORMULAS FOR RULES 1 TO 5 AND MAX LOAN . THAT'S ALL. THANKS IN ADVANCE. INSTRUCTIONS: Rule 1: the applicant
PLEASE, SOMEONE, HELP FINDING THE FORMULAS FOR RULES 1 TO 5 AND MAX LOAN. THAT'S ALL. THANKS IN ADVANCE.
INSTRUCTIONS:
Rule 1: the applicant can borrow at 5.5% rate if credit score is above 620, has no down payment, job category is 1 or better, there is a steady employment at least during the past year, annual income is at least $15,000, and debt to income ratio is less than 10%.
Rule 2: the applicant can borrow at 4.5% rate if credit score is above 680, ready for a down payment of at least 8%, job category is 2 or better, there is a steady employment at least for the past two years, annual income is at least $30,000, and debt to income ratio is less than 20%
Rule 3: the applicant can borrow at 4% rate if credit score is above 730, ready for a down payment of at least 15%, job category is 2 or better, there is a steady employment for at least the past 3 years, annual income is at least $60,000, and debt to income ratio is less than 30%
Rule 4: the applicant can borrow at 3.5% rate if credit score is above 780, ready for a down payment of at least 15%, job category is 3 or better, there is a steady employment at least for the past 5 years, annual income is at least $70,000, and debt to income ratio is less than 20%
Rule 5: applicant can borrow at 3% rate if has a credit score more than 800, job category is 4, and either has a steady employment history of at least 5 years or annual income of at least $80,000. There is no need to check for applicant down payment and debt ratio in this category.
- Create a reference table for rules. All numbers in your formulas should reference cells in this table. There should be no numbers in formulas.
- Use logical operators to find applicant qualifications for each rule.
- Use a function to show the best interest rate approved in column M. In case an applicant does not qualify for any of these rules the formula should return Not qualified. Apply conditional formatting to change the fill color of the entire row for customer information if not qualified.
ALL DATA IS ADDED BASED ON THE INSTRUCTIONS, I JUST NEED THE FORMULAS.
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