HRMA7369 Assignment Help on Loan Amortization Table Development

HRMA7369

Assignment 4

Loan Amortization Table Development

Name: _______________________________________________

Please search a house. In Houston, you may want to utilize www.har.com.
Provide address (B3) and a market price (B4) of your chosen property.
Let’s assume that you put 20% of the market price as a down payment to avoid Private Mortgage Insurance. Please calculate mortgage amount accordingly (B7).
Let’s disregard all the fees involved and improvements planned with regard to purchase of your house.
Let’s assume that the amortization period is 15 years (180 months) and interest rate is 6% annually. Based on the information, please calculate annual payment (B10), and monthly payment (B11). Please make sure to use the same unit; for annual payment calculation, use annual interest rate and number of years whereas for monthly payment calculation, use monthly interest rate and number of months.
Develop a loan amortization table. Please make sure to use the formula as directed in the PPT “How to develop a loan amortization table” uploaded on BlackBoard. Note that the example appearing in the PPT for annual payment calculation for the sake of space.
Please make sure to create schedule for the whole 180 months.
In the last row, please calculate totals of monthly payment, interest, and principal, respectively. Use ‘sum’ function.
Create a row of total numbers for interest, principal, and payments. Use the ‘sum’ function.

Submission: After completing the Excel spreadsheet, please save the file as “Assignment4_YourName.” Then, send a copy to professor through BlackBoard Messages by 5pm of coming Monday.

Grading: Missing information and hard-copied numbers lose points. Late submission loses 2 points each day.

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