Question

excel pls

sign he Layout 11 ill Aa AZ A- A+ 12 w Ro... 1116 S A A U .abe X2 X2 14 15 16 13 12 11 10 9 7 6 8 4 5 2 A. On Dec. 31", Mr. A. buys a tiny cottage for $555,000 paying a 20% down and agreeing to pay the balance in 20 equal annual installments at 4%. How much is the installment payment? B. same problem, except the payments will be monthly, that is, he will repay the loan in 240 payments. How much is the installment payment? (Please attach screen print of excel work, just before you hit 'OX) Show work. Work to 2

Answer 1

B D Option 1 Total Downpayment PV N 1/Y PMT 5,55,000 1,11,000 4,44,000 20 4% 32,670 Option 2 Total 5,55,000 Downpayment 1,11,000 PV 4,44,000 N 240 1/Y 0.33% PMT 2,691

Option 1 Total Downpayment PV N 1/Y |PMT 555000 =C3*0.2 =C3-C4 20 0.04 =PMT(C7,C6,C5,0)*-1 Option 2 Total Downpayment PV N 1/Y PMT 555000 =F3*0.2 =F3-F4 240 =4%/12 =PMT(F7,F6,F5,0)*-1