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ex1ch4

# ex1ch4 - 51 56 \$400.00 \$450.00 \$500.00 \$550.00 \$600.00...

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Spreadsheet Example, Chapter 4, Page 140 12.00% nominal annual interest rate 1.00% monthly interest rate \$18,000.00 amount borrowed Formulas used in cells B9 through B13 # Payments 36 \$597.86 =-PMT(\$A\$4,A9,\$A\$5) 42 \$526.96 =-PMT(\$A\$4,A10,\$A\$5) 48 \$474.01 =-PMT(\$A\$4,A11,\$A\$5) 54 \$433.02 =-PMT(\$A\$4,A12,\$A\$5) 60 \$400.40 =-PMT(\$A\$4,A13,\$A\$5) Monthly Payment 36 41 46

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Unformatted text preview: 51 56 \$400.00 \$450.00 \$500.00 \$550.00 \$600.00 Monthly Payment Monthly Payment Number of payments Monthly payment GRAPH SHOWS MONTHLY PAYMENTS FOR NEW CAR LOAN. TERM OF LOAN: 36 TO 60 MONTHS (3 TO 5 YEARS). EXCEL FUNCTIONS: FOR P, USE PV ( ) FOR F, USE FV ( ) FOR A, USE PMT ( ) FOR N, USE NPER ( ) FOR I, USE RATE ( )...
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ex1ch4 - 51 56 \$400.00 \$450.00 \$500.00 \$550.00 \$600.00...

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