Write formulas to compute financial data

Assignment Help Basic Computer Science

Reference no: EM132851448

Learning Objective 1. Write formulas to compute financial data.
Learning Objective 2. Use Microsoft Excel formulas to make financial decisions.
Learning Objective 3. Apply financial calculations to authentic situations.

Instructions:

You have decided to purchase an existing bakery and are comparing loan options. You will create a spreadsheet using the following instructions in order to analyze the data.

Create a spreadsheet and name it "W4 Loan Your Initials"
Entitle it "Loan Comparison" and merge and center across Row 1 (A-D)
Use Century Gothic Font, Size 12, Bold, Italicize
Create Headings in Cells B2 - D2: Loan 1, Loan 2, Loan 3
Use Arial Font, Size 12, Bold
Beginning in cell A3 and ending in cell A8, add the following categories:
Principal
Annual Interest Rate
Number of Monthly Payments
Monthly Payment
Interest
Total Payment

Use the following information

	Lender 1	Lender 2	Lender 3
Principal	100,000.00	103,000.00	99,000.00
Annual Interest Rate	4.13%	4.05%	3.70%
Number of Monthly Payments	360	400	320

Add formulas for the
• Monthly Payment =PMT((Annual Interest rate/12),Number of monthly payments,-Principal,0)
• Interest =IPMT(Annual Interest rate,1,Number of monthly payments,-Principal)
• Total Payment =Principl+Interest

Analyze the data and select the loan you feel is most beneficial for your circumstances. Justify your response with a short paragraph.

Attachment:- Financial decision.rar

Reference no: EM132851448

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Reviews

len2851448

4/7/2021 10:28:41 PM

Please be aware that you don''t have to type the tables again in Excel. You can copy and paste from the word document that is provided at the bottom of the assignment. You can also use the functions described there. It is just a matter of replacing the input for these functions with the appropriate cells. After that you have to do simple computations, and choose the best alternative from a business point of view.

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