Parker F.

asked • 12/14/14

# Calculate the monthly mortgage payment of principal and interest for the a loan with an initial balance of 150,000, an annual stated interest rate of 6%, and 30

Calculate the monthly mortgage payment of principal and interest for the a loan with an initial balance of 150,000, an annual stated interest rate of 6%, and 30 years to maturity. Use Excel to develop this response and present your result within a separate page of the spreadsheet.
Develop the amortization table for the loan outlined in problem 1. Use an Excel spreadsheet to develop and present this table. Present this result in a separate page of the spreadsheet.
Further, given the structure of problem 1, develop a summary table showing how the monthly payment would adjust for all options with an interest rate at 5%, 6% and 7% as well as a maturity at 15 years, 20 years and 30 years. Use Excel to develop and present this summary table. Present the results in a separate page of the spreadsheet.
Assume that you want to retire in 30 years. You intend to invest $200 per month into a mutual fund that you expect to return 12% per year (1% monthly). If you continue making these monthly investments for 30 years, what amount of money will you have at the end of the 30th year? Use Excel to develop and present this result. Present the result in a separate page of the spreadsheet. Given problem number 4, please develop a summary table showing the accumulation for all options with an assumed return of 10%, 11%, 12%, 13% and 14% as well as an investment of$150, $200 and$250. Use Excel to develop and present this summary table. Present the result in a separate page of the spreadsheet.

Sherryse H.

Have you tried this problem with Excel?
Report

01/06/15

Usha M.

tutor
Use the same formatting and use the FV formula for the second part of the question

Report

10/29/15

## 3 Answers By Expert Tutors

By:

Raymond D. answered • 10/02/15

Tutor
5 (2)

Retired, But Enjoy Passing on Math and Computer Knowledge

Sherryse H. answered • 01/07/15

Tutor
3 (1)

Accounting, Income Tax, Excel

## Still looking for help? Get the right answer, fast.

Get a free answer to a quick problem.
Most questions answered within 4 hours.

#### OR

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.