Question: Could you please provide the formulas for the excel sheet below. 1-Total Amount Paid 2-Total Interest Paid 3-SUM Check Calculation 4-Buy new in Period 36

Could you please provide the formulas for the excel sheet below.

1-Total Amount Paid

2-Total Interest Paid

3-SUM Check Calculation

4-Buy new in Period 36

5- Payment

6- interest

7- Principle

8- Balance

Thank you.

Could you please provide the formulas for the excel sheet below. 1-Total

6

3 4 5 6 7 8 9 You have decided to purchase a new car. You plan to take out a loan to pay for the car. The loan amount is $18,900. You will pay 6.5% interest and will pay off the car in 48 months. You are interested in calculating the total amount of money and the total amount of interest you will pay over the course of the loan. To help you with these calculations, you decide to construct an amortization table. An amortization table provides details about the payment, interest amount, principle amount, and loan balance for every month of the loan. Complete the amortization table and the summary calculations below. 10 Loan Amount Term (months) Interest Rate -$18,900.00 48 6.50% Loan Summary Total Amount Paid Total Interest Paid SUM Check Calculation Buy new in Period 367 Payment Payment Interest Principle Balance $18,900.00 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Period 0 1 2 3 4 5 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 32 33 34 35 36 37 38 39 40 41 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 76 Amortization $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 cnnn Four JS Painting 43 14 Google Spending + 3 4 5 6 7 8 9 You have decided to purchase a new car. You plan to take out a loan to pay for the car. The loan amount is $18,900. You will pay 6.5% interest and will pay off the car in 48 months. You are interested in calculating the total amount of money and the total amount of interest you will pay over the course of the loan. To help you with these calculations, you decide to construct an amortization table. An amortization table provides details about the payment, interest amount, principle amount, and loan balance for every month of the loan. Complete the amortization table and the summary calculations below. 10 Loan Amount Term (months) Interest Rate -$18,900.00 48 6.50% Loan Summary Total Amount Paid Total Interest Paid SUM Check Calculation Buy new in Period 367 Payment Payment Interest Principle Balance $18,900.00 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Period 0 1 2 3 4 5 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 32 33 34 35 36 37 38 39 40 41 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 76 Amortization $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 cnnn Four JS Painting 43 14 Google Spending +

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!