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.

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.

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## 3 Answers By Expert Tutors

Usha M. answered • 10/29/15

CPA- 20 plus years Accounting professional

Create a spreadsheet to show

Column A b c d e

Rate of Interest 6% 5% 6% 7%

Number of payments 360 180 240 360

Loan Amount 150000 150000 150000 150000

Monthly Payment

Place Cursor on Cell B4. Go to Formulas, insert, financial, PMT, and select cell B1/12, B2, B3 Hit enter and the monthly payment will appear on the cells. Repeat the above for answers in column C, D, E

$899.33 -$1,186.19 -$1,074.65 -$997.95

Raymond D. answered • 10/02/15

Retired, But Enjoy Passing on Knowledge

To calculate the monthly payment, use the Excel PMT function. The parameters for the PMT function are the rate, number of periods, and the present value. The 6% annual rate needs to be divided by 12 to get a monthly rate. The 30 years need to be multiplied by 12 to get the number of months. So the cell so calculate the payment should contain:

=PMT(0.06/12,30*12,150000)

Each of the values could be placed in separate cells and then replace the values in the formula with the appropriate cell.

There is also a FV function that calculates the future value of an investment, with the same parameters.

Sherryse H. answered • 01/07/15

Accounting, Income Tax, Excel

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Sherryse H.

01/06/15