Thursday

January 29, 2015

January 29, 2015

Posted by **Angie** on Friday, September 7, 2012 at 2:32pm.

2. A home loan is to be repaid by a series of equal monthly payments over many years. Prepare a worksheet to calculate the total of the interest paid over the duration of the repayment, using one or more Excel functions. Your results should be in the form of a two-dimensional table, with each yearly interest rate of 3.0%, 3.5%, 4.0%, 4.5%, and 5.0% shown in a separate row, and each loan payoff time of 15, 20, 25, and 30 years shown in a separate column. The total interest payment calculated in each table cell should correspond to the interest rate at the left of the row and the payoff time at the top of the column. The home loan amount of $150,000 should be located in a cell outside of the table that is referenced by the table formulas. The table formulas should make correct use of relative and absolute addresses so that copying any table cell to the entire table gives correct formulas in every cell. NOTE: For an interest rate of 4.0% and a payoff time of 20 years, the total interest payment is $68,152.92 (negative of the value given by the Excel functions), assuming each payment is made at the end of the month.

**Answer this Question**

**Related Questions**

Excel & Math - I'm not sure what two excel functions to use that will give the ...

managerial economics - my cubic equation is O=C+aL+bL^2+cL3 how can i get the ...

BCIS - You need to use the help section in your Excel program (press the F1 key ...

EXCEL 2010 (again) - I am not allowed to use the AutoSum or AVERAGE functions to...

math using excel - how do i use excel to plot a graph then find x from the slope...

Excel formula help - Formula to multiply the number in cell 4k times standard ...

MS Office Suite - I am familiar with Excel 2007. I just got the news that I will...

Excel - The use of excel Excel is a very necessary tool for all businesses in ...

Computer Applications - An Excel workbook can contain more than one workshet. ...

Data Analysis Excel - Why would you exchange information between Excel and some ...