Reference no: EM132951105

For this assignment, you are to turn in an Excel workbook containing three sheets: 1 worksheet and 2 chart sheets. Please label the sheets as specified below. Make sure the charts have a good format. In particular, pay attention to labels and titles for the axes.

Joe is making a plan for paying off his credit card debt. He has a balance of $30,000. He is being charged an annual interest rate of 8%. He will not make any new charges on this card and wants to reduce his debt to $0 within 2 years by making a fixed monthly payment. He has arranged to make the payments due at the end of the month starting in June 2021.

-Set up a worksheet with all the relevant numbers above.
-On the same worksheet, create a table that shows, for each month: the date of -payment, the number of the payment, the total payment, interest payment, principal payment, and remaining balance for the two-year period. You can fill in the dates using Fill/Series. Take advantage of autofill for the formulas. Rename the worksheet as "Payment Table".
-Show the net present value of all monthly payments.
-Be sure every number is well-formatted and well-labeled.
-make a line chart on a separate sheet that shows the remaining balance as it
-changes over time. The labels on the horizontal axis should be dates.
-Hint: You may want to do it the following way: Select the Remaining Balance column and then insert your chart. Then use Chart Tools/Design/Data/Select Data and edit the horizontal axis to be labelled by the Date column. Be sure the vertical axis starts at 0. Rename the worksheet as "Remaining Balance Chart".
-Create astacked column chart on another sheet that shows interest payment and principal payment for each month. Be sure to change the horizontal axis labels to show the dates. Rename the worksheet as "Payment Chart"