Exp$22\_$Excel$\_$Ch$02\_$HOE $-$ Townsend Mortgage Company

Project Description:

You are an assistant to Yui Matheson, a mortgage broker at the Townsend Mortgage Company. Yui spends days reviewing

mortgage rates and trends, meeting with clients, and preparing paperwork. Yui relies on your expertise in using Excel to help

analyze mortgage data. Today, Yui provided you with sample mortgage data: loan number, house cost, down payment,

mortgage rate, and the length of the loan in years. She asked you to perform some basic calculations so that the output

provided by her system can be checked to verify that it is calculating results correctly. You have also been tasked with

calculating the amount financed, the periodic interest rate, the total number of payment periods, the percentage of the house

cost financed, and the payoff year for each loan. In addition, you will calculate totals, averages, and other basic statistics.

Furthermore, Yui asked you to complete another worksheet that uses functions to look up interest rates from a separate table,

calculate the monthly payments, and determine how much $($if any$)$ the borrower will have to pay for private mortgage insurance

$($PMI$).$

Steps to Perform: