Create a new What SUP Loan Amortization Schedule
Using the ch5-03 file to start your work, create a worksheet (similar to the one created in this chapter) that calculates the required annual payment for an $850,000, 7-year loan at 5 percent and includes a loan amortization schedule. (Be sure to use names in the worksheet, as illustrated in the chapter. You will also need to format the cells.) Save your file as ch5-03_student_name (replacing student_name with your name).
a. Print the newly completed worksheet in Value view, with your name and date printed in the lower left footer and the file name in the lower right footer.
b. Use the Scenario Manager to create a scenario using rates of 10, 9, 7, and 6 percent to calculate alternative payments. Print the resulting summary worksheet.
c. Use Excel’s goal seek feature to calculate the amount the company could borrow if it could afford a payment of $120,000 per year assuming the original loan assumptions. Print the resulting worksheet in Value view, with your name and date printed in the lower left footer and the file name in the lower right footer.