Enable Macros to Begin Assignment
Amortization
Four file
This assignment Js relies on a set of macros to handle submission and scoring. Before you may
begin the assignment,
Painting you must enable macros in this workbook. Depending the version of Excel
and the security settings, you may see a prompt similar to those below. If you have already
Google
dismissed the prompt, you may need to close this workbook and open it again.
Spending
Using the Assignment Tools to Complete This Exam
Event Profit
Past Events
The tools for working with this exam are found in the Assignment menu.
PivotTable Questions
The Instruction Sheet icon displays all tasks for the The Task Guide icon displays ea one at a time,
exam at the same time in your Internet browser.
The Submit icon initiates the grading process. Pay The View Report icon displays
attention to any alerts that are displayed. your last submis
,ch of the exam tasks, window in Excel.
your feedback from sion.
, You have decided to purchase a new car. You plan to take out a loan to pay for the
car. The loan amount is $18,900. You will pay an interest rate of 6.5% and plan to pay
off the car in 48 months. You want to calculate the total amount of money and the
total amount of interest you will pay over the course of the loan. To help you with
these calculations, you decide to construct an amortization table. An amortization
table provides details about the payment, interest amount, principle amount, and
loan balance for every month of the loan. Perform the tasks below to complete the
amortization table and loan summary calculations.
Loan Amount -$18,900.00 Loan Summary
Term (months) 48 Total Amount Paid $21,514.21
Interest Rate 6.50% Total Interest Paid $2,614.21
SUM Check $2,614.21
Payment $448.21 Calculation No
Buy new in Period 36?
Period Payment Interest Principle Balance
0 $18,900.00
1 $448.21 $102.38 $345.84 $18,554.16
2 $448.21 $100.50 $347.71 $18,206.45
3 $448.21 $98.62 $349.59 $17,856.86
4 $448.21 $96.72 $351.49 $17,505.37
5 $448.21 $94.82 $353.39 $17,151.98
6 $448.21 $92.91 $355.31 $16,796.67
7 $448.21 $90.98 $357.23 $16,439.44
8 $448.21 $89.05 $359.17 $16,080.27
9 $448.21 $87.10 $361.11 $15,719.16
10 $448.21 $85.15 $363.07 $15,356.10
11 $448.21 $83.18 $365.03 $14,991.06
12 $448.21 $81.20 $367.01 $14,624.05
13 $448.21 $79.21 $369.00 $14,255.05
14 $448.21 $77.21 $371.00 $13,884.06
15 $448.21 $75.21 $373.01 $13,511.05
16 $448.21 $73.18 $375.03 $13,136.02
17 $448.21 $71.15 $377.06 $12,758.96
18 $448.21 $69.11 $379.10 $12,379.86
19 $448.21 $67.06 $381.16 $11,998.70
20 $448.21 $64.99 $383.22 $11,615.48
21 $448.21 $62.92 $385.30 $11,230.19
22 $448.21 $60.83 $387.38 $10,842.81
23 $448.21 $58.73 $389.48 $10,453.33
24 $448.21 $56.62 $391.59 $10,061.74
25 $448.21 $54.50 $393.71 $9,668.02
26 $448.21 $52.37 $395.84 $9,272.18
27 $448.21 $50.22 $397.99 $8,874.19
28 $448.21 $48.07 $400.14 $8,474.05
29 $448.21 $45.90 $402.31 $8,071.74
Amortization
Four file
This assignment Js relies on a set of macros to handle submission and scoring. Before you may
begin the assignment,
Painting you must enable macros in this workbook. Depending the version of Excel
and the security settings, you may see a prompt similar to those below. If you have already
dismissed the prompt, you may need to close this workbook and open it again.
Spending
Using the Assignment Tools to Complete This Exam
Event Profit
Past Events
The tools for working with this exam are found in the Assignment menu.
PivotTable Questions
The Instruction Sheet icon displays all tasks for the The Task Guide icon displays ea one at a time,
exam at the same time in your Internet browser.
The Submit icon initiates the grading process. Pay The View Report icon displays
attention to any alerts that are displayed. your last submis
,ch of the exam tasks, window in Excel.
your feedback from sion.
, You have decided to purchase a new car. You plan to take out a loan to pay for the
car. The loan amount is $18,900. You will pay an interest rate of 6.5% and plan to pay
off the car in 48 months. You want to calculate the total amount of money and the
total amount of interest you will pay over the course of the loan. To help you with
these calculations, you decide to construct an amortization table. An amortization
table provides details about the payment, interest amount, principle amount, and
loan balance for every month of the loan. Perform the tasks below to complete the
amortization table and loan summary calculations.
Loan Amount -$18,900.00 Loan Summary
Term (months) 48 Total Amount Paid $21,514.21
Interest Rate 6.50% Total Interest Paid $2,614.21
SUM Check $2,614.21
Payment $448.21 Calculation No
Buy new in Period 36?
Period Payment Interest Principle Balance
0 $18,900.00
1 $448.21 $102.38 $345.84 $18,554.16
2 $448.21 $100.50 $347.71 $18,206.45
3 $448.21 $98.62 $349.59 $17,856.86
4 $448.21 $96.72 $351.49 $17,505.37
5 $448.21 $94.82 $353.39 $17,151.98
6 $448.21 $92.91 $355.31 $16,796.67
7 $448.21 $90.98 $357.23 $16,439.44
8 $448.21 $89.05 $359.17 $16,080.27
9 $448.21 $87.10 $361.11 $15,719.16
10 $448.21 $85.15 $363.07 $15,356.10
11 $448.21 $83.18 $365.03 $14,991.06
12 $448.21 $81.20 $367.01 $14,624.05
13 $448.21 $79.21 $369.00 $14,255.05
14 $448.21 $77.21 $371.00 $13,884.06
15 $448.21 $75.21 $373.01 $13,511.05
16 $448.21 $73.18 $375.03 $13,136.02
17 $448.21 $71.15 $377.06 $12,758.96
18 $448.21 $69.11 $379.10 $12,379.86
19 $448.21 $67.06 $381.16 $11,998.70
20 $448.21 $64.99 $383.22 $11,615.48
21 $448.21 $62.92 $385.30 $11,230.19
22 $448.21 $60.83 $387.38 $10,842.81
23 $448.21 $58.73 $389.48 $10,453.33
24 $448.21 $56.62 $391.59 $10,061.74
25 $448.21 $54.50 $393.71 $9,668.02
26 $448.21 $52.37 $395.84 $9,272.18
27 $448.21 $50.22 $397.99 $8,874.19
28 $448.21 $48.07 $400.14 $8,474.05
29 $448.21 $45.90 $402.31 $8,071.74
