1. You are an application developer at a financial institution. You have been asked to develop an Excel module for use by other employees. These people are not technical, and therefore the application needs to be simple to use, with a professional appearance.

   The first application is a loan table to be generated based on input supplied by the employee. The key information will be the report date, lender's name, vehicle, principal amount, annual interest rate, amortization in years, all of which would be entered in designated fields at the top of the spreadsheet.

   The application will then calculate a monthly payment amount, and create a table which includes columns for opening balance, interest payable, principal repaid, and closing balance. The loans to be processed are typically for vehicles, with a 48 month term.

   The report should include a row for each month, however only months 1, 6, 12, 18, 24, 36, and 48 should be displayed in the report.

   This report should include a chart indicating cumulative principal repaid monthly over the term of the loan, and a summary which includes total amount paid and cumulative interest payment.

   In order to make this application easier to use, it should be titled and instructions provided to guide the employee to supply appropriate input information.In order to test your application, use the following information as input:

   name-John Smith

   vehicle-Ford Focus 1F98H864E20201

   principal- $28,000

   interest-5%

   amortization period-4 years