On January 1, 2023 the Bmw Company borrows $60,000 cash by signing a 2-year, 12%, installment...

 

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On January 1, 2023 the Bmw Company borrows $60,000 cash by signing a 2-year, 12%, installment note, with quarterly interest payments. 1) Calculate the amount of each payment using the PMT function. 2) Prepare the amortization schedule for the loan. Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. Loan amount Term (years) Annual interest % Payments per year $60,000 2 12% 1) What is the amount of each quarterly loan payment?. The PMT function must be used, and formula must return a positive value. 2) Complete the amortization schedule for this note. All formulas must return a positive value. Quarterly Interest Period Beginning Debit Interest Debit Notes Balance Expense Payable Credit Cash Ending Balance BMW wants to buy a home, and is considering several financing options. Bmw plans to borrow $180,000 with monthly payments. 1) Calculate the amount of each mortgage payment using the PMT function. 2) Calculate the total amount of mortgage payments and 3) the total amount of interest paid over the term of the mortgage under the following financing options.Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. Mortgage amount Payments per year Financing Term (years) Annual interest 1) Monthly Option rate payment 1 2 3 4 20 $180,000 12 15 10 20 12.0% 11.0% 11.5% 13.0% 2) Total 3) Total payments over interest paid term over term BMW wants to buy a car and is considering several financing options. The car Bmw wants to buy costs $16,000. 1) Calculate the amount of each monthly car payment using the PMT function. 2) Calculate the total amount of the car payments and 3) the total amount of interest paid over the term of the loan under the following financing options. Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. Amount financed Payments per year Financing Term (years) Option 1 2 3 4 4 6 3 5 $16,000 12 Annual interest 1) Monthly rate payment 7.0% 6.0% 6.5% 8.0% 2) Total 3) Total payments over interest paid term over term On January 1, 2023 the Bmw Company borrows $60,000 cash by signing a 2-year, 12%, installment note, with quarterly interest payments. 1) Calculate the amount of each payment using the PMT function. 2) Prepare the amortization schedule for the loan. Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. Loan amount Term (years) Annual interest % Payments per year $60,000 2 12% 1) What is the amount of each quarterly loan payment?. The PMT function must be used, and formula must return a positive value. 2) Complete the amortization schedule for this note. All formulas must return a positive value. Quarterly Interest Period Beginning Debit Interest Debit Notes Balance Expense Payable Credit Cash Ending Balance BMW wants to buy a home, and is considering several financing options. Bmw plans to borrow $180,000 with monthly payments. 1) Calculate the amount of each mortgage payment using the PMT function. 2) Calculate the total amount of mortgage payments and 3) the total amount of interest paid over the term of the mortgage under the following financing options.Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. Mortgage amount Payments per year Financing Term (years) Annual interest 1) Monthly Option rate payment 1 2 3 4 20 $180,000 12 15 10 20 12.0% 11.0% 11.5% 13.0% 2) Total 3) Total payments over interest paid term over term BMW wants to buy a car and is considering several financing options. The car Bmw wants to buy costs $16,000. 1) Calculate the amount of each monthly car payment using the PMT function. 2) Calculate the total amount of the car payments and 3) the total amount of interest paid over the term of the loan under the following financing options. Enter a valid Excel formula or function in each of the yellow cells below. Formulas must refer to cell address(es). Entering a value will be marked as incorrect. Amount financed Payments per year Financing Term (years) Option 1 2 3 4 4 6 3 5 $16,000 12 Annual interest 1) Monthly rate payment 7.0% 6.0% 6.5% 8.0% 2) Total 3) Total payments over interest paid term over term

Answer rating: 100% (QA)

Here are the formulas to calculate the loan amounts for BMW Loan amount Term years Annual interest P... View the full answer