acis 2504 homework 2

acis 2504 homework 2 - 5 (years) 700 4.90% 10 800 1.90%...

This preview shows pages 1–3. Sign up to view the full content.

Purpose: Developer: Term Created or Last Modified User Instructions for Loan Calculator:

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Spring 2009 Marilyn Griffin Enter loan specifics in the "Loan Inputs" section of the LoanData worksheet. The interest rate should automatically appear when a credit score is entered. Chapter 3: Designed to have students complete the loan calculator model using Excel formulas and functions.
Loan Inputs Interest Rate Lookup Terms Customer Name Audrey Michelle Griffin Credit Score Interest Rate 2 Credit Score 650 0 Disqualified 3 Purchase Price \$28,500 500 9.00% 5 Down Payment \$4,000 600 6.90% 7 Loan Term
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 5 (years) 700 4.90% 10 800 1.90% Payment Results Payment: (\$483.97) per month Interest Rate: 6.90% per year Loan Term: 5.00 years Loan Amount: \$24,500 Payment # Ending Balance 1 \$24,500.00 (\$4,268.83) (\$1,352.40) (\$4,268.83) (\$1,352.40) \$30,121.23 2 (\$4,563.38) (\$1,014.30) (\$4,563.38) (\$1,014.30) 3 (\$4,878.25) (\$676.20) (\$4,878.25) (\$676.20) 4 (\$5,214.85) (\$338.10) (\$5,214.85) (\$338.10) 5 (\$5,574.68) \$0.00 (\$5,574.68) \$0.00 Beginning Balance Current Principal Paid Current Interest Paid Total Principal Paid Total Interest Paid...
View Full Document

This note was uploaded on 02/21/2009 for the course ACIS 2504 taught by Professor Mtgriffin during the Spring '08 term at Virginia Tech.

Page1 / 3

acis 2504 homework 2 - 5 (years) 700 4.90% 10 800 1.90%...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online