Develop a general-purpose spreadsheet to calculate the balance due, principal payment, and interest payment for each period of a loan. The user inputs to the spreadsheet will be the loan amount, the number of payments per year, the number of years payments are made, and the nominal interest rate. Submit printouts of your analysis of a loan in the amount of $15,000 at 8.9% nominal rate for 36 months and for 60 months of payments
Develop a general-purpose spreadsheet to calculate the balance due, principal payment, and interest payment for each period of a loan. The user inputs to the spreadsheet will be the loan amount, the number of payments per year, the number of years payments are made, and the nominal interest rate. Submit printouts of your analysis of a loan in the amount of $15,000 at 8.9% nominal rate for 36 months and for 60 months of payments
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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Develop a general-purpose spreadsheet to calculate the balance due, principal payment, and interest payment for each period of a loan. The user inputs to the spreadsheet will be the loan amount, the number of payments per year, the number of years payments are made, and the nominal interest rate. Submit printouts of your analysis of a loan in the amount of $15,000 at 8.9% nominal rate for 36 months and for 60 months of payments
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