Need to generate Amortization Table in Excel for the following problem. The correct answers are given but they need to be generated using Financial Functions.
Need to generate Amortization Table in Excel for the following problem. The correct answers are given...
Spreadsheet 1: Amortization Table Create an amortization table in MS-Excel in the format shown below: Scenario: 2 years ago Janice got a $100,000, 15-year mortgage with an annual interest rate of 6% and monthly payments. 1) What is her monthly payment? 2) How much does she owe today (after 24 payments)? 3) How much will she owe in 3 years (after 60 payments)? 4) How much will she owe in 3 years (after 60 payments) if she makes an extra...
Loans Excel Homework Assignment Mortgage Amortization Schedule Excel Assignment 1. Excel: Complete the amortization table provided in the Excel document posted in in the homework area by setting the appropriate values for a $165,000, 30-year mortgage at 4.5% interest and using Excel's autofill (drag) feature to fill in the cells to the end of the mortgage period. Use this to answer the following: a. How much of the first payment goes towards the principal? How much goes toward the interest?...
Mortgage Amortization Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and answer the following questions (The details about the loan are shown below): Correct Answers 1. What is your monthly payment? 2. What is the total $ amount of payments made over the life of the loan Enter Answers Here. 3. How many months will it take to pay off the loan if you pay an extra $465.71 per month? Note: Enter the...
PLEASE EXPLAIN HOW TO CREATE THE AMORTIZATION TABLE IN EXCEL! Mini-Project 1: Mortgage Loan Analysis (50 points): You plan to buy a house in December 2019. The sale price is $385,000. You need to pay 20% down payments and borrow additional 80% from Bank of America with a 25-year, 3.0% fixed-rate mortgage loan. You are expected to pay an equal MONTHLY payment starting from January 2020 for a total of 25 years. (1) Calculate your expected monthly mortgage payment. (2)...
i need part B and the rest on excel Question 1 Prepare the amortization schedule for a thirty-year loan of $100,000. The APR is 3% and the loan calls for equal monthly payments. The following table shows how you should prepare the amortization schedule for the loan. a. Interest Principal Ending Month lPayment Payment Payment Balance Beginning ota S100,000.00 b. Use the annuity formula to find how much principal you still owe to the bank at the end of the...
7A) Use excel to build a monthly amortization table for a 30-year 5% fix-rate mortgage on a $320,000 home, with a $15,000 down payment. [Please be good to the forests and cut and paste only the first and last few rows of the table, not the whole thing.] 7B) Using the amortization table you built for the previous question, answer the following [Again, just cut and paste the segment of the amortization table that helps you answer the question.]: a....
2 Q008 Negative Amortization a. Negative amortization occurs when the principal balance on a occurs when the principal balance on a loan (usually a mortgage) increases because the borrower's payments don't cover the total amount of interest that has accrued. des to purchase a house that costs $199.500. The bank requires a 10% downpayment and will provide a 15 year mortgage at a annual interest rate of 6%. The bank tells Mary that her monthly mortgage payments will be $1,510.14...
Question 16 1 pts Excel Questions 13-16. Complete the amortization table provided in the Excel document posted in Ivy Learn in the homework area by setting the appropriate values for a $100.000. 30-year mortgage at 6% interest and using Excel's autofill (drag) feature to fill in the cells to the end of the mortgage period. Use this to answer the following: How many months will it take to pay at least half of the principal?
An amortization table reports the amount of interest and principal contained within each regularly scheduled payment used to repay an amortized loan. Example Amortization Schedule Payment Interest Repayment of Principal Year Beginning Amount Ending Balance 1 2 3 Consider the amount of the interest payments included in each of the payments of an amortized loan. Which of the following statements regarding the pattern of the interest payments is true? The portion of the payment going toward interest is smaller in...
13. [Loan Amortization] You have just obtained a $300,000 mortgage loan from the Chase bank toward the purchase of a home at 6% APR. The amortization schedule of your mortgage is set in the monthly payments for the next 30 years. A) What is the monthly loan payment? B) What is the balance of the loan after 20 years of loan payments? C) From the previous mortgage loan question, what will be the principal and the total interest that you...