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Mortgage: Amortization schedule & APR

Objective: To create a mortgage amortization spreadsheet and compare APR for alternative loans. Learn and utilize excel formulas and graphing tools.

Submit: Upload completed Excel file.

Note: Use 9907 In spreadsheet before you start. Use Excel formulas. If not, you will get zero.

Loan amortization

Consider the loan information in the ?Amortization? sheet in Excel *Numbers is 9907

Interest & Principal payments

Ending balance

APR comparison

Answer sheet should look similar to the example on the next page:

Mortgage: Amortization schedule & APR Objective: To create a mortgage amortization spreadsheet and compare APR for alternative loans. Learn and utilize excel formulas and graphing tools. Submit: Upload completed Excel file. Note: Use 9907 In spreadsheet before you start. Use Excel formulas. If not, you will get zero. Loan amortization Consider the loan information in the \"Amortization\" sheet in Excel *Numbers is 9907 1. Fill out the blank blue cells in the Mortgage Information section 2. Complete the mortgage amortization schedule 3. Insert the graphs for: a. Interest & Principal payments b. Ending balance APR comparison 4. Fill out the blank blue cells to compare the two loan's APRs in Question 2 5. Briefly comment on the result. Which loan would you choose? (A couple sentences is sufficient) 6. Answer sheet should look similar to the example on the next page: Homework #2 Student ID (last 4 digits) Name Question 1 Mortgage information Property Price Loan Amount Down Payment LTV Interest rate Compounding Term Loan payment Question 2 #VALUE! #VALUE! Loan A Months 360 Loan amount #VALUE! Rate 4.1% Points 0% Payment APR #VALUE! (annual) Monthly 30 (in years) (principal & interest only) Your comment: Amortization Schedule Month 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 Beg balance Interest Principal End balance Add interest and principal payment graph here. Add ending balance graph here. Loan B 360 #VALUE! #VALUE! 2% 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 Homework #2 (The Last 4 digits) Name 9907 Question 1 Mortgage information Property Price Loan Amount Down Payment LTV Interest rate Compounding Term Loan payment Question 2 $200,000 $150,000 $50,000 75.0% 4.0% (annual) Monthly 30 (in years) $716.12 (principal & interest only) Months Loan amount Rate Points Payment APR Your comment: Amortization Schedule Month 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 Beg balance $150,000 $149,784 $149,567 $149,349 $149,131 $148,912 $148,692 $148,472 $148,251 $148,029 $147,806 $147,583 $147,358 $147,134 $146,908 $146,681 $146,454 $146,226 $145,998 $145,768 $145,538 $145,307 $145,075 $144,843 $144,609 $144,375 $144,140 $143,905 $143,668 $143,431 $143,193 $142,954 $142,715 $142,474 $142,233 $141,991 $141,748 $141,504 $141,260 $141,015 $140,769 $140,522 $140,274 $140,026 $139,776 $139,526 $139,275 $139,023 $138,770 $138,517 $138,262 $138,007 $137,751 $137,494 $137,236 $136,978 $136,718 $136,458 $136,196 $135,934 $135,671 $135,407 $135,143 $134,877 $134,610 $134,343 $134,075 $133,805 $133,535 Interest Principal $500 $216 $499 $217 $499 $218 $498 $218 $497 $219 $496 $220 $496 $220 $495 $221 $494 $222 $493 $223 $493 $223 $492 $224 $491 $225 $490 $226 $490 $226 $489 $227 $488 $228 $487 $229 $487 $229 $486 $230 $485 $231 $484 $232 $484 $233 $483 $233 $482 $234 $481 $235 $480 $236 $480 $236 $479 $237 $478 $238 $477 $239 $477 $240 $476 $240 $475 $241 $474 $242 $473 $243 $472 $244 $472 $244 $471 $245 $470 $246 $469 $247 $468 $248 $468 $249 $467 $249 $466 $250 $465 $251 $464 $252 $463 $253 $463 $254 $462 $254 $461 $255 $460 $256 $459 $257 $458 $258 $457 $259 $457 $260 $456 $260 $455 $261 $454 $262 $453 $263 $452 $264 $451 $265 $450 $266 $450 $267 $449 $267 $448 $268 $447 $269 $446 $270 $445 $271 End balance $149,784 $149,567 $149,349 $149,131 $148,912 $148,692 $148,472 $148,251 $148,029 $147,806 $147,583 $147,358 $147,134 $146,908 $146,681 $146,454 $146,226 $145,998 $145,768 $145,538 $145,307 $145,075 $144,843 $144,609 $144,375 $144,140 $143,905 $143,668 $143,431 $143,193 $142,954 $142,715 $142,474 $142,233 $141,991 $141,748 $141,504 $141,260 $141,015 $140,769 $140,522 $140,274 $140,026 $139,776 $139,526 $139,275 $139,023 $138,770 $138,517 $138,262 $138,007 $137,751 $137,494 $137,236 $136,978 $136,718 $136,458 $136,196 $135,934 $135,671 $135,407 $135,143 $134,877 $134,610 $134,343 $134,075 $133,805 $133,535 $133,264 $800 Add interest and principal payment graph here. $700 $600 $500 $400 Interest Principal $300 $200 $100 $0 Add ending balance graph here. End balance $160,000 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0 End balance Loan A 360 $150,000 4.1% 0% $724.80 4.10% Loan B 360 $150,000 4.0% 2% $716.12 4.17% You Must Select Loan A as its APR is lower than Loan B 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 $133,264 $132,992 $132,720 $132,446 $132,171 $131,896 $131,619 $131,342 $131,064 $130,784 $130,504 $130,223 $129,941 $129,658 $129,374 $129,089 $128,803 $128,517 $128,229 $127,940 $127,651 $127,360 $127,068 $126,776 $126,482 $126,188 $125,892 $125,596 $125,298 $125,000 $124,700 $124,400 $124,098 $123,796 $123,492 $123,188 $122,883 $122,576 $122,268 $121,960 $121,650 $121,340 $121,028 $120,715 $120,402 $120,087 $119,771 $119,454 $119,136 $118,817 $118,497 $118,176 $117,854 $117,530 $117,206 $116,881 $116,554 $116,227 $115,898 $115,568 $115,237 $114,905 $114,572 $114,238 $113,902 $113,566 $113,228 $112,890 $112,550 $112,209 $111,867 $111,524 $111,179 $110,834 $110,487 $110,139 $109,790 $109,440 $109,089 $108,736 $108,383 $108,028 $107,672 $107,315 $106,956 $106,597 $106,236 $444 $443 $442 $441 $441 $440 $439 $438 $437 $436 $435 $434 $433 $432 $431 $430 $429 $428 $427 $426 $426 $425 $424 $423 $422 $421 $420 $419 $418 $417 $416 $415 $414 $413 $412 $411 $410 $409 $408 $407 $406 $404 $403 $402 $401 $400 $399 $398 $397 $396 $395 $394 $393 $392 $391 $390 $389 $387 $386 $385 $384 $383 $382 $381 $380 $379 $377 $376 $375 $374 $373 $372 $371 $369 $368 $367 $366 $365 $364 $362 $361 $360 $359 $358 $357 $355 $354 $272 $273 $274 $275 $276 $276 $277 $278 $279 $280 $281 $282 $283 $284 $285 $286 $287 $288 $289 $290 $291 $292 $293 $294 $295 $295 $296 $297 $298 $299 $300 $301 $302 $303 $304 $305 $307 $308 $309 $310 $311 $312 $313 $314 $315 $316 $317 $318 $319 $320 $321 $322 $323 $324 $325 $327 $328 $329 $330 $331 $332 $333 $334 $335 $336 $338 $339 $340 $341 $342 $343 $344 $346 $347 $348 $349 $350 $351 $352 $354 $355 $356 $357 $358 $360 $361 $362 $132,992 $132,720 $132,446 $132,171 $131,896 $131,619 $131,342 $131,064 $130,784 $130,504 $130,223 $129,941 $129,658 $129,374 $129,089 $128,803 $128,517 $128,229 $127,940 $127,651 $127,360 $127,068 $126,776 $126,482 $126,188 $125,892 $125,596 $125,298 $125,000 $124,700 $124,400 $124,098 $123,796 $123,492 $123,188 $122,883 $122,576 $122,268 $121,960 $121,650 $121,340 $121,028 $120,715 $120,402 $120,087 $119,771 $119,454 $119,136 $118,817 $118,497 $118,176 $117,854 $117,530 $117,206 $116,881 $116,554 $116,227 $115,898 $115,568 $115,237 $114,905 $114,572 $114,238 $113,902 $113,566 $113,228 $112,890 $112,550 $112,209 $111,867 $111,524 $111,179 $110,834 $110,487 $110,139 $109,790 $109,440 $109,089 $108,736 $108,383 $108,028 $107,672 $107,315 $106,956 $106,597 $106,236 $105,874 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 $105,874 $105,511 $105,146 $104,780 $104,414 $104,046 $103,676 $103,306 $102,934 $102,561 $102,187 $101,811 $101,434 $101,056 $100,677 $100,297 $99,915 $99,532 $99,147 $98,762 $98,375 $97,987 $97,597 $97,206 $96,814 $96,421 $96,026 $95,630 $95,233 $94,834 $94,434 $94,033 $93,630 $93,226 $92,821 $92,414 $92,006 $91,596 $91,186 $90,773 $90,360 $89,945 $89,529 $89,111 $88,692 $88,271 $87,849 $87,426 $87,001 $86,575 $86,148 $85,719 $85,288 $84,857 $84,423 $83,989 $83,552 $83,115 $82,676 $82,235 $81,793 $81,350 $80,905 $80,458 $80,010 $79,561 $79,110 $78,658 $78,204 $77,748 $77,291 $76,833 $76,373 $75,911 $75,448 $74,984 $74,517 $74,050 $73,580 $73,110 $72,637 $72,163 $71,688 $71,210 $70,732 $70,251 $69,769 $353 $352 $350 $349 $348 $347 $346 $344 $343 $342 $341 $339 $338 $337 $336 $334 $333 $332 $330 $329 $328 $327 $325 $324 $323 $321 $320 $319 $317 $316 $315 $313 $312 $311 $309 $308 $307 $305 $304 $303 $301 $300 $298 $297 $296 $294 $293 $291 $290 $289 $287 $286 $284 $283 $281 $280 $279 $277 $276 $274 $273 $271 $270 $268 $267 $265 $264 $262 $261 $259 $258 $256 $255 $253 $251 $250 $248 $247 $245 $244 $242 $241 $239 $237 $236 $234 $233 $363 $364 $366 $367 $368 $369 $371 $372 $373 $374 $376 $377 $378 $379 $381 $382 $383 $384 $386 $387 $388 $390 $391 $392 $393 $395 $396 $397 $399 $400 $401 $403 $404 $405 $407 $408 $409 $411 $412 $414 $415 $416 $418 $419 $420 $422 $423 $425 $426 $428 $429 $430 $432 $433 $435 $436 $438 $439 $441 $442 $443 $445 $446 $448 $449 $451 $452 $454 $455 $457 $458 $460 $462 $463 $465 $466 $468 $469 $471 $472 $474 $476 $477 $479 $480 $482 $484 $105,511 $105,146 $104,780 $104,414 $104,046 $103,676 $103,306 $102,934 $102,561 $102,187 $101,811 $101,434 $101,056 $100,677 $100,297 $99,915 $99,532 $99,147 $98,762 $98,375 $97,987 $97,597 $97,206 $96,814 $96,421 $96,026 $95,630 $95,233 $94,834 $94,434 $94,033 $93,630 $93,226 $92,821 $92,414 $92,006 $91,596 $91,186 $90,773 $90,360 $89,945 $89,529 $89,111 $88,692 $88,271 $87,849 $87,426 $87,001 $86,575 $86,148 $85,719 $85,288 $84,857 $84,423 $83,989 $83,552 $83,115 $82,676 $82,235 $81,793 $81,350 $80,905 $80,458 $80,010 $79,561 $79,110 $78,658 $78,204 $77,748 $77,291 $76,833 $76,373 $75,911 $75,448 $74,984 $74,517 $74,050 $73,580 $73,110 $72,637 $72,163 $71,688 $71,210 $70,732 $70,251 $69,769 $69,286 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 $69,286 $68,801 $68,314 $67,825 $67,335 $66,844 $66,350 $65,855 $65,359 $64,861 $64,361 $63,859 $63,356 $62,851 $62,344 $61,836 $61,326 $60,814 $60,301 $59,786 $59,269 $58,750 $58,230 $57,708 $57,184 $56,659 $56,131 $55,602 $55,072 $54,539 $54,005 $53,469 $52,931 $52,391 $51,850 $51,306 $50,761 $50,214 $49,665 $49,115 $48,563 $48,008 $47,452 $46,894 $46,334 $45,773 $45,209 $44,644 $44,076 $43,507 $42,936 $42,363 $41,788 $41,211 $40,633 $40,052 $39,469 $38,885 $38,298 $37,710 $37,119 $36,527 $35,933 $35,336 $34,738 $34,138 $33,535 $32,931 $32,325 $31,716 $31,106 $30,493 $29,879 $29,262 $28,644 $28,023 $27,400 $26,776 $26,149 $25,520 $24,889 $24,256 $23,620 $22,983 $22,343 $21,702 $21,058 $231 $229 $228 $226 $224 $223 $221 $220 $218 $216 $215 $213 $211 $210 $208 $206 $204 $203 $201 $199 $198 $196 $194 $192 $191 $189 $187 $185 $184 $182 $180 $178 $176 $175 $173 $171 $169 $167 $166 $164 $162 $160 $158 $156 $154 $153 $151 $149 $147 $145 $143 $141 $139 $137 $135 $134 $132 $130 $128 $126 $124 $122 $120 $118 $116 $114 $112 $110 $108 $106 $104 $102 $100 $98 $95 $93 $91 $89 $87 $85 $83 $81 $79 $77 $74 $72 $70 $485 $487 $488 $490 $492 $493 $495 $497 $498 $500 $502 $503 $505 $507 $508 $510 $512 $513 $515 $517 $519 $520 $522 $524 $526 $527 $529 $531 $533 $534 $536 $538 $540 $541 $543 $545 $547 $549 $551 $552 $554 $556 $558 $560 $562 $564 $565 $567 $569 $571 $573 $575 $577 $579 $581 $583 $585 $587 $588 $590 $592 $594 $596 $598 $600 $602 $604 $606 $608 $610 $612 $614 $617 $619 $621 $623 $625 $627 $629 $631 $633 $635 $637 $640 $642 $644 $646 $68,801 $68,314 $67,825 $67,335 $66,844 $66,350 $65,855 $65,359 $64,861 $64,361 $63,859 $63,356 $62,851 $62,344 $61,836 $61,326 $60,814 $60,301 $59,786 $59,269 $58,750 $58,230 $57,708 $57,184 $56,659 $56,131 $55,602 $55,072 $54,539 $54,005 $53,469 $52,931 $52,391 $51,850 $51,306 $50,761 $50,214 $49,665 $49,115 $48,563 $48,008 $47,452 $46,894 $46,334 $45,773 $45,209 $44,644 $44,076 $43,507 $42,936 $42,363 $41,788 $41,211 $40,633 $40,052 $39,469 $38,885 $38,298 $37,710 $37,119 $36,527 $35,933 $35,336 $34,738 $34,138 $33,535 $32,931 $32,325 $31,716 $31,106 $30,493 $29,879 $29,262 $28,644 $28,023 $27,400 $26,776 $26,149 $25,520 $24,889 $24,256 $23,620 $22,983 $22,343 $21,702 $21,058 $20,412 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 $20,412 $19,764 $19,114 $18,461 $17,807 $17,150 $16,491 $15,830 $15,167 $14,501 $13,833 $13,163 $12,491 $11,816 $11,140 $10,461 $9,779 $9,096 $8,410 $7,722 $7,032 $6,339 $5,644 $4,947 $4,247 $3,545 $2,841 $2,134 $1,425 $714 $68 $66 $64 $62 $59 $57 $55 $53 $51 $48 $46 $44 $42 $39 $37 $35 $33 $30 $28 $26 $23 $21 $19 $16 $14 $12 $9 $7 $5 $2 $648 $650 $652 $655 $657 $659 $661 $663 $666 $668 $670 $672 $674 $677 $679 $681 $684 $686 $688 $690 $693 $695 $697 $700 $702 $704 $707 $709 $711 $714 $19,764 $19,114 $18,461 $17,807 $17,150 $16,491 $15,830 $15,167 $14,501 $13,833 $13,163 $12,491 $11,816 $11,140 $10,461 $9,779 $9,096 $8,410 $7,722 $7,032 $6,339 $5,644 $4,947 $4,247 $3,545 $2,841 $2,134 $1,425 $714 $0