Display the variation in the total interest column

Assignment Help Financial Management

Reference no: EM131978340

A new aspect of the business has been added to Campus Travel. Students can apply for a loan to help pay for their travels. However, loans for travel are available only to students who are traveling outside the country for at least 2 weeks. Because the costs for this type of international travel differ depending on how you travel, where you stay, and what you do at the destination, different loan packages are available. You have decided to take out a loan to travel abroad. You have already taken a look at several offers but are unsure whether you can afford it. Set up a spreadsheet to calculate the payments per month for the following situations. 4. (1) 2 weeks in Spain; price: US$2000; annual interest rate: 5.5%; length of loan is 1 year (2) 2 weeks in France; price: US$3000; annual interest rate: 6%; length of loan is 1 year (3) 3 weeks in Russia; price: US$3000; annual interest rate: 6.5%; length of loan is 2 years (4) 3 weeks in China; price: US$3500; annual interest rate: 5.5%; length of loan is 2 years (5) 4 weeks in Italy; price: US$4000; annual interest rate: 6%; length of loan is 2 years (6) 4 weeks in Spain; price: US$5000; annual interest rate: 6.5%; length of loan is 2 year (7) 2 weeks in Mexico; price: US$1000; annual interest rate: 7.5%; length of loan is 1 year (8) 3 weeks in Japan; price: US$4500; annual interest rate: 8.5%; length of loan is 1 year (9) 2 weeks in Germany; price: US$1500; annual interest rate: 6.5%; length of loan is 1 year Once you have calculated the payments (use PMT formula), calculate the total amount paid for each option as well as the total interest you would pay over the course of the loan. Make sure to use formulas for all calculations and submit a professionally formatted page displaying the results. In addition, use data bars from the conditional formatting dialog box to display the variation in the total interest column.

Reference no: EM131978340

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