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11. Use Excel to develop an amortization table for a loan of $10,000 to be paid back in 60 equal monthly payments with an interest rate of 6% compounded monthly. The first payment will occur at EOM1. Use the following column headings for your spreadsheet: A EOM (Payment #) B Principal Owed (BOM) ---- 10,000 CT Payment ----- D Interest in Pmt ***** E Principal in Pmt F Principal Owed (EOM) 10,000

11. Use Excel to develop an amortization table for a loan of $10,000 to be paid back in 60 equal monthly payments with an interest rate of 6% compounded monthly. The first payment will occur at EOM1. Use the following column headings for your spreadsheet: A EOM (Payment #) B Principal Owed (BOM) ---- 10,000 CT Payment ----- D Interest in Pmt ***** E Principal in Pmt F Principal Owed (EOM) 10,000

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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11. Use Excel to develop an amortization table for a loan of $10,000 to be paid back in 60 equal monthly payments with an interest rate of 6% compounded monthly. The first payment will occur at EOM1. Use the following column headings for your spreadsheet: ER A EOM (Payment #) 0 1 B CT Principal Owed Payment (BOM) 10,000 Your spreadsheet should be set up to be easily 'generalized. In other words, you should be able to change the interest rate of the loan, the amount borrowed and the payment by changing one cell for each. D Interest in Pmt E Principal in Pmt F Principal Owed (EOM) 10,000
Transcribed Image Text:11. Use Excel to develop an amortization table for a loan of $10,000 to be paid back in 60 equal monthly payments with an interest rate of 6% compounded monthly. The first payment will occur at EOM1. Use the following column headings for your spreadsheet: ER A EOM (Payment #) 0 1 B CT Principal Owed Payment (BOM) 10,000 Your spreadsheet should be set up to be easily 'generalized. In other words, you should be able to change the interest rate of the loan, the amount borrowed and the payment by changing one cell for each. D Interest in Pmt E Principal in Pmt F Principal Owed (EOM) 10,000
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