Question: Homework Problem In chapter 3, we discussed Repaying a Debt, Plan #3: Constant Payment Using the same understanding, develop an Amortization Plan for the data


Homework Problem In chapter 3, we discussed "Repaying a Debt, Plan #3: Constant Payment" Using the same understanding, develop an Amortization Plan for the data provided on the following two sheets. The amortization table (the outcome) is given to you on the next-to-next sheet. Your homework submission must be MS Excel Sheet and you need to set up the sheet so that all the values in the columns of Interest, Principal and Balance Due should be derived from a formula. Typed numbers will not get you any points. Copyright Oxford University Press 2020 4-54 Build Amortization Table . Borrow $4000 . N= 5 years i = 10% Equal annual payments A= Copyright Oxford University Press 2020 4-55 Output of Amortization Table 4000 Amount borrowed 5 N 10% i $1,055.19 payment Period Interest Principal 0 1 2 3 4 5 400.00 334.48 262.41 183.13 95.93 655.19 720.71 792.78 872.06 959.26 Balance Due 4000.00 3344.81 2624.10 1831.32 959.26 0.00
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