63% Sun 9:50 PM a ts 0(v >> a-search in Documen ie share commnents Home Insert Draw Design Layout References L' Century Go... 11A A Aa v Paste s 1 u vx2 x2 Av v A. Paragraph Styles sensitivity OJECT STEP Justin and Kaleen Millowski have always dreamed of purchasing and running a campground. Kaleen wants to be ready when a campground becomes available so she decides to start calculating how a mortgage will impact her family's budget on a monthly basis and over the life of the loan. She also wants to consider how different mortgage interest rates will impact the total cost of the campground. 1. 53 $ 63 65 $ 47 $ 30 $ 49 $ 26 $ 46 36 $ 31 $ 52 69 73 5 .42 Switch to the Campground Mortgage worksheet. In cell DS, create a formula using the PMT function to determine the monthly payments for the anticipated Campground mortgage, using the defined names Rate, Term Years, and Loan_Amount as the rate, nper, and pv arguments in the formula Put a negative sign before the PMT function to make the formula return a positive value. a. In the function, Rate should be divided by 12 to calculate the monthly interest rate, and Term_Years should be multiplied by 12 to calculate the total number of monthly payments. b. Kaleen calculated the anticipated total cost of the campground using the mortgage interest rate she expects to qualify for. She now wants to determine how different interest rates could impact the total cost of the campground. 2. Select the range A12:A26 and fill it with a percent series based on the values in range A12:A13. These values are the interest rates that Kaleen will analyze in the Varying Interest Rate Schedule. Page 1 of 5 1379 words Focus 137% 63% Sun 9:50 PM a ts 0(v >> a-search in Documen ie share commnents Home Insert Draw Design Layout References L' Century Go... 11A A Aa v Paste s 1 u vx2 x2 Av v A. Paragraph Styles sensitivity OJECT STEP Justin and Kaleen Millowski have always dreamed of purchasing and running a campground. Kaleen wants to be ready when a campground becomes available so she decides to start calculating how a mortgage will impact her family's budget on a monthly basis and over the life of the loan. She also wants to consider how different mortgage interest rates will impact the total cost of the campground. 1. 53 $ 63 65 $ 47 $ 30 $ 49 $ 26 $ 46 36 $ 31 $ 52 69 73 5 .42 Switch to the Campground Mortgage worksheet. In cell DS, create a formula using the PMT function to determine the monthly payments for the anticipated Campground mortgage, using the defined names Rate, Term Years, and Loan_Amount as the rate, nper, and pv arguments in the formula Put a negative sign before the PMT function to make the formula return a positive value. a. In the function, Rate should be divided by 12 to calculate the monthly interest rate, and Term_Years should be multiplied by 12 to calculate the total number of monthly payments. b. Kaleen calculated the anticipated total cost of the campground using the mortgage interest rate she expects to qualify for. She now wants to determine how different interest rates could impact the total cost of the campground. 2. Select the range A12:A26 and fill it with a percent series based on the values in range A12:A13. These values are the interest rates that Kaleen will analyze in the Varying Interest Rate Schedule. Page 1 of 5 1379 words Focus 137%