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Engineering
Computer Engineering
You are considering the purchase of a new home offered at a price of $225,000. Create an amortization table in a new workbook that shows how much interest and principal you will pay each month for the duration of the loan. The following is a list of assumptions and requirements you need to consider for this assignment: 1. You will be making a down payment of 20% on the home (refer to Table 2.5 in the textbook for loan and lease terms). 2. The bank will offer you a loan at an annual interest rate of 5.5% for 30 years. 3. Your mortgage payments will be made at the end of each month. 4. You must construct the amortization table so that any change in the loan variables, down payment percent, length of loan, interest rate, and so on will automatically produce new outputs for each month of the amortization table. 5. The amortization table must show the interest payment, principal payment, and balance remaining to be paid on the loan for every month of the loan duration. The beginning balance for the last month of the loan should be equal to the principal payment in the last month. Refer to Figure 2.29 in the textbook for establishing the format for the table. 6. Remember to use column and/or row headings, add a title to your worksheet, and rename the worksheet tab with an appropriate label. 7. Include your name in the file name of the workbook.

You are considering the purchase of a new home offered at a price of $225,000. Create an amortization table in a new workbook that shows how much interest and principal you will pay each month for the duration of the loan. The following is a list of assumptions and requirements you need to consider for this assignment: 1. You will be making a down payment of 20% on the home (refer to Table 2.5 in the textbook for loan and lease terms). 2. The bank will offer you a loan at an annual interest rate of 5.5% for 30 years. 3. Your mortgage payments will be made at the end of each month. 4. You must construct the amortization table so that any change in the loan variables, down payment percent, length of loan, interest rate, and so on will automatically produce new outputs for each month of the amortization table. 5. The amortization table must show the interest payment, principal payment, and balance remaining to be paid on the loan for every month of the loan duration. The beginning balance for the last month of the loan should be equal to the principal payment in the last month. Refer to Figure 2.29 in the textbook for establishing the format for the table. 6. Remember to use column and/or row headings, add a title to your worksheet, and rename the worksheet tab with an appropriate label. 7. Include your name in the file name of the workbook.

Computer Networking: A Top-Down Approach (7th Edition)
Computer Networking: A Top-Down Approach (7th Edition)
7th Edition
ISBN:9780133594140
Author:James Kurose, Keith Ross
Publisher:James Kurose, Keith Ross
Chapter1: Computer Networks And The Internet
Section: Chapter Questions
Problem R1RQ: What is the difference between a host and an end system? List several different types of end...
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You are considering the purchase of a new home offered at a price of $225,000. Create an amortization table in a new workbook that shows how much interest and principal you will pay each month for the duration of the loan. The following is a list of assumptions and requirements you need to consider for this assignment: 1. You will be making a down payment of 20% on the home (refer to Table 2.5 in the textbook for loan and lease terms). 2. The bank will offer you a loan at an annual interest rate of 5.5% for 30 years. 3. Your mortgage payments will be made at the end of each month. 4. You must construct the amortization table so that any change in the loan variables, down payment percent, length of loan, interest rate, and so on will automatically produce new outputs for each month of the amortization table. 5. The amortization table must show the interest payment, principal payment, and balance remaining to be paid on the loan for every month of the loan duration. The beginning balance for the last month of the loan should be equal to the principal payment in the last month. Refer to Figure 2.29 in the textbook for establishing the format for the table. 6. Remember to use column and/or row headings, add a title to your worksheet, and rename the worksheet tab with an appropriate label. 7. Include your name in the file name of the workbook.
Transcribed Image Text:You are considering the purchase of a new home offered at a price of $225,000. Create an amortization table in a new workbook that shows how much interest and principal you will pay each month for the duration of the loan. The following is a list of assumptions and requirements you need to consider for this assignment: 1. You will be making a down payment of 20% on the home (refer to Table 2.5 in the textbook for loan and lease terms). 2. The bank will offer you a loan at an annual interest rate of 5.5% for 30 years. 3. Your mortgage payments will be made at the end of each month. 4. You must construct the amortization table so that any change in the loan variables, down payment percent, length of loan, interest rate, and so on will automatically produce new outputs for each month of the amortization table. 5. The amortization table must show the interest payment, principal payment, and balance remaining to be paid on the loan for every month of the loan duration. The beginning balance for the last month of the loan should be equal to the principal payment in the last month. Refer to Figure 2.29 in the textbook for establishing the format for the table. 6. Remember to use column and/or row headings, add a title to your worksheet, and rename the worksheet tab with an appropriate label. 7. Include your name in the file name of the workbook.
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