Project 3C. Loan Payment
In Activities 3.11 through 3.16, you will create a worksheet for Darron Jacobsen, Vice President of Administrative Affairs, which details the loan information to purchase and finance pickup trucks for campus maintenance crews. Darron plans to borrow money to pay for the trucks, and then pay off the loan in monthly payments. He must decide how to arrange the loan to buy the trucks he needs and still keep the monthly payment within his budget. You will create a worksheet containing payments for combinations of time periods and interest rates so that Darron can identify what range of rates and periods will meet his requirements. The worksheets of your workbook will look similar to Figure 3.27.
Figure 3.27.
|
For Project 3C, you will need the following file: |
|
New blank workbook |
You will save your workbook as
3C_Loan_Payment_Firstname_Lastname
Objective 5 Use Financial Functions
|