Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
The question is in the second photo. 3 F G H Open recover : x x A B D E LOAN AMORTIZATION SCHEDULE ENTER VALUES
The question is in the second photo.
3 F G H Open recover : x x A B D E LOAN AMORTIZATION SCHEDULE ENTER VALUES Loan amount $5,000.00 Annual interest rate 4.00% Loan period in years Number of payments per year 12 Start date of loan 12/3/20 LOAN SUMMARY Scheduled payment Scheduled number of payments Actual number of payments Total early payments Total interest $425.75 12 10 $900.00 $69.62 Optional extra payments $100,00 LENDER NAME Woodgrove Bank PRINCIPAL PMT 1 NO 2 1 13 2 14 3 15 4 MI 5 17 6 10 7 19 8 20 9 21 10 22 23 24 25 26 PAYMENT DATE 123/20 13/21 2/1/21 3/3/21 4/3/21 5321 63121 7/3/21 8/3/21 321 BEGINNING BALANCE $5,000.00 54490 S2 $3.980.14 $3,467 65 $2.953.46 $2.437.56 $1919.94 $1,400.59 5879.50 $350.00 SCHEDULED PAYMENT $425.75 $425.75 $425.75 $425.75 $425.75 $425.75 $425.76 $425.75 $425.75 $425.75 EXTRA PAYMENT $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100,00 50.00 TOTAL PAYMENT $525 75 $525.75 $525.75 $525.75 $525.75 $525.75 $525.75 $525.75 $525.75 $356.69 $509.08 $510.78 $512,48 $514.19 $515.90 $517 62 $519.35 $521.08 $522.82 $355.50 ENDING INTEREST BALANCE $16.67 $4,490.92 $14.97 $3,980.14 $13.27 $3,467 65 $11.56 $2.953.46 $9.84 $2,437.56 $8.13 $1,919.94 $6.40 $1,400.59 $4.67 $879.50 $2.93 $356.69 $1.19 50.00 CUMULATIVE INTEREST $16.87 $3164 $44.90 $56.46 $66.31 $74 43 $80.83 $95.50 $88.43 $89.62 21 29 31 29 34 35 36 40 Loanichedule M Assignment Create and complete a "PAYMENTS TO DATE" column by creating multiple formulas and formatting Bonus: Create a single formula and use autofill. *Payments to Date" should look like this once it is correct and Excel does it's calculations When selected, every cell should begin with = in the formula bar. This will automatically happen if you use insert function PAYMENTS TO DATE $525.75 $1,051.50 $1,577 25 $2,103.00 $2,628.75 $3,154,50 $3,680 25 $4 206.00 $4,731.75 $5,088 43
The question is in the second photo.
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/6682c4a927be2_0566682c4a8aa7c4.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/6682c4aa06305_0576682c4a96bc8e.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started