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6. 7. 8. 9. In cell D7, enter a formula without using a function that adds the Price (cell B5) to the Total Interest (cell D6) to determine the total cost of the house. Miranda wants to compare monthly payments for interest rates that vary from 4.00 to 4.96 percent and for terms of 180, 240, and 360 months. She has already set up the structure for a data table in the range A11:D24. 10. Create a two-variable data table as follows to provide the comparison that Miranda requests: a. 11. b. In cell A11, enter a formula without using a function that references the Monthly Payment amount (cell D5) because Miranda wants to compare the monthly payments. Based on the range A11:D24, create a two-variable data table that uses the term in months (cell D4) as the row input cell and the rate (cell D3) as the column input cell. In the list of interest rates (range A12:A24), create a Conditional Formatting Highlight Cells Rule to highlight the listed rate that matches the rate for the Beecher Street house (cell D3) in Light Red Fill with Dark Red Text. Change the color of the left, right, and bottom borders of the range A9:D24 to Tan, Accent 4, to match the other outside borders in the worksheet. Miranda and Ricardo talked to three local banks about securing a mortgage for the Beecher Street house. With the first bank, they could borrow $315,000 at 4.40 percent annual interest and pay back the loan in 30 years. She wants to determine the monthly payment with the first bank. In cell G9, enter a formula using the PMT function and the monthly interest rate (cell G5), the loan period in months (cell G7), and the loan amount (cell G3) to calculate the monthly payment with Bank 1. With the second bank, Miranda and Ricardo could reduce their monthly payments to $1,500 but pay a higher annual interest rate (4.56 percent) to pay back the loan in 30 years. Miranda wants to know how much she can borrow with those conditions. In cell H3, insert a formula using the PV function and the monthly interest rate (cell

6. 7. 8. 9. In cell D7, enter a formula without using a function that adds the Price (cell B5) to the Total Interest (cell D6) to determine the total cost of the house. Miranda wants to compare monthly payments for interest rates that vary from 4.00 to 4.96 percent and for terms of 180, 240, and 360 months. She has already set up the structure for a data table in the range A11:D24. 10. Create a two-variable data table as follows to provide the comparison that Miranda requests: a. 11. b. In cell A11, enter a formula without using a function that references the Monthly Payment amount (cell D5) because Miranda wants to compare the monthly payments. Based on the range A11:D24, create a two-variable data table that uses the term in months (cell D4) as the row input cell and the rate (cell D3) as the column input cell. In the list of interest rates (range A12:A24), create a Conditional Formatting Highlight Cells Rule to highlight the listed rate that matches the rate for the Beecher Street house (cell D3) in Light Red Fill with Dark Red Text. Change the color of the left, right, and bottom borders of the range A9:D24 to Tan, Accent 4, to match the other outside borders in the worksheet. Miranda and Ricardo talked to three local banks about securing a mortgage for the Beecher Street house. With the first bank, they could borrow $315,000 at 4.40 percent annual interest and pay back the loan in 30 years. She wants to determine the monthly payment with the first bank. In cell G9, enter a formula using the PMT function and the monthly interest rate (cell G5), the loan period in months (cell G7), and the loan amount (cell G3) to calculate the monthly payment with Bank 1. With the second bank, Miranda and Ricardo could reduce their monthly payments to $1,500 but pay a higher annual interest rate (4.56 percent) to pay back the loan in 30 years. Miranda wants to know how much she can borrow with those conditions. In cell H3, insert a formula using the PV function and the monthly interest rate (cell

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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I need help to do questions 6 to 10 and the Excel table before moving on with Excel.
New House Mortgage Calculator Loan Payment Calculator 10/1/2021 2 3 Date 4 5 Price 6 Down Payment 7 Loan Amount 8 9 Property 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Rate Beecher Street 4.00% 4.08% 4.16% 4.24% 4.32% 4.40% 4.48% 4.56% 4.64% 4.72% 4.80% 4.88% 4.96% Ś $ 350,000 35,000 Rate Term in Months Varying Interest Rates and Terms Number of Months 240 180 Monthly Payment Total Interest Total Cost 4.32% 360 360 Documentation Mortgage Calculator Listings Car Loan 4 E Scenarios Loan Amount Annual Interest Rate Monthly Interest Rate Loan Period in Years Loan Period in Months Start Date Monthly Payment Future Value Current Rent $ Monthly House Payment S $ Bank 1 4.40% 0.37% 30 360 1/5/2022 $ 1,500 S H Bank 2 4.56% 0.38% 30 360 1/5/2022) (1,500) $ $0.00 $1,151,573.10 $ Bank 3 337,500 4.56% 0.38% 20 240 1/5/2022) (1,500)
Transcribed Image Text:New House Mortgage Calculator Loan Payment Calculator 10/1/2021 2 3 Date 4 5 Price 6 Down Payment 7 Loan Amount 8 9 Property 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Rate Beecher Street 4.00% 4.08% 4.16% 4.24% 4.32% 4.40% 4.48% 4.56% 4.64% 4.72% 4.80% 4.88% 4.96% Ś $ 350,000 35,000 Rate Term in Months Varying Interest Rates and Terms Number of Months 240 180 Monthly Payment Total Interest Total Cost 4.32% 360 360 Documentation Mortgage Calculator Listings Car Loan 4 E Scenarios Loan Amount Annual Interest Rate Monthly Interest Rate Loan Period in Years Loan Period in Months Start Date Monthly Payment Future Value Current Rent $ Monthly House Payment S $ Bank 1 4.40% 0.37% 30 360 1/5/2022 $ 1,500 S H Bank 2 4.56% 0.38% 30 360 1/5/2022) (1,500) $ $0.00 $1,151,573.10 $ Bank 3 337,500 4.56% 0.38% 20 240 1/5/2022) (1,500)
6. 7. 8. 9. In cell D7, enter a formula without using a function that adds the Price (cell B5) to the Total Interest (cell D6) to determine the total cost of the house. Miranda wants to compare monthly payments for interest rates that vary from 4.00 to 4.96 percent and for terms of 180, 240, and 360 months. She has already set up the structure for a data table in the range A11:D24. 10. Create a two-variable data table as follows to provide the comparison that Miranda requests: a. 11. b. In cell A11, enter a formula without using a function that references the Monthly Payment amount (cell D5) because Miranda wants to compare the monthly payments. Based on the range A11:D24, create a two-variable data table that uses the term in months (cell D4) as the row input cell and the rate (cell D3) as the column input cell. In the list of interest rates (range A12:A24), create a Conditional Formatting Highlight Cells Rule to highlight the listed rate that matches the rate for the Street house (cell D3) in Light Red Fill with Dark Red Text. cher Change the color of the left, right, and bottom borders of the range A9:D24 to Tan, Accent 4, to match the other outside borders in the worksheet. Miranda and Ricardo talked to three local banks about securing a mortgage for the Beecher Street house. With the first bank, they could borrow $315,000 at 4.40 percent annual interest and pay back the loan in 30 years. She wants to determine the monthly payment with the first bank. In cell G9, enter a formula using the PMT function and the monthly interest rate (cell G5), the loan period in months (cell G7), and the loan amount (cell G3) to calculate the monthly payment with Bank 1. With the second bank, Miranda and Ricardo could reduce their monthly payments to $1,500 but pay a higher annual interest rate (4.56 percent) to pay back the loan in 30 years. Miranda wants to know how much she can borrow with those conditions. In cell H3, insert a formula using the PV function and the monthly interest rate (cell
Transcribed Image Text:6. 7. 8. 9. In cell D7, enter a formula without using a function that adds the Price (cell B5) to the Total Interest (cell D6) to determine the total cost of the house. Miranda wants to compare monthly payments for interest rates that vary from 4.00 to 4.96 percent and for terms of 180, 240, and 360 months. She has already set up the structure for a data table in the range A11:D24. 10. Create a two-variable data table as follows to provide the comparison that Miranda requests: a. 11. b. In cell A11, enter a formula without using a function that references the Monthly Payment amount (cell D5) because Miranda wants to compare the monthly payments. Based on the range A11:D24, create a two-variable data table that uses the term in months (cell D4) as the row input cell and the rate (cell D3) as the column input cell. In the list of interest rates (range A12:A24), create a Conditional Formatting Highlight Cells Rule to highlight the listed rate that matches the rate for the Street house (cell D3) in Light Red Fill with Dark Red Text. cher Change the color of the left, right, and bottom borders of the range A9:D24 to Tan, Accent 4, to match the other outside borders in the worksheet. Miranda and Ricardo talked to three local banks about securing a mortgage for the Beecher Street house. With the first bank, they could borrow $315,000 at 4.40 percent annual interest and pay back the loan in 30 years. She wants to determine the monthly payment with the first bank. In cell G9, enter a formula using the PMT function and the monthly interest rate (cell G5), the loan period in months (cell G7), and the loan amount (cell G3) to calculate the monthly payment with Bank 1. With the second bank, Miranda and Ricardo could reduce their monthly payments to $1,500 but pay a higher annual interest rate (4.56 percent) to pay back the loan in 30 years. Miranda wants to know how much she can borrow with those conditions. In cell H3, insert a formula using the PV function and the monthly interest rate (cell
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