IME 3200, Fall 2009 EXCEL ASSIGNMENT #1 Instr: K. M. Bafna PROBLEM: You have decided to buy a fully loaded Audi A6 -3.2 Quattro for a purchase price of $52,500. You will pay $2,000 down at the time of purchase. You will finance the balance at a nominal annual rate of 5.25 % per year to be repaid in equal monthly installments over a period of 5 years. 1. Using EXCEL, prepare an amortization schedule for the 60-month payoff period in the format shown in the lower box below. Make sure that all cells with a % value are formatted for percent, and $ values are formatted accordingly and the values are to the nearest dollar. Use appropriate functions (PMT, IPMT, PPMT) and formulas. Save this work as Sheet 1 in your file. 2. For the amortization schedule developed in 1 above, draw a stacked column graph
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This note was uploaded on 12/09/2009 for the course IME 3200 taught by Professor Bafna during the Fall '09 term at Western Michigan.