The goal of this project is to create a worksheet that through inputs and a seri

Question

The goal of this project is to create a worksheet that through inputs and a series of formulas, be a basis of an expandable tool, that you can use to create project an amortization schedule. The spreadsheet should be able to do various calculations using automated formulas. Both, fully amortizing, partially amortizing (balloon) or Interest only (bullet). there should be no balance or payment of interest past the term Yield with or with out closing costs. Interest Only periods. should be fully formula driven Able to change loan amount, amortization period, term length, interest rate. Go crazy and include these calculations for 5%% extra credit for each item do one do them all. calculate date of each payment calculate interest and principal for calendar or loan year Actual vs 360 payments. Average life Duration

Explanation / Answer

Since I am unable to attach the excel worksheet, I gave the formulas and pasted the worksheet

Amount of Loan 0 Loan Period 0 years 0 Annual Interst rate 0% 0 Baloon Payment 0 After 0 years Monthly Instalment #DIV/0! Baloon Payment #DIV/0! The Formula for monthly instalment is Principal * [((r/12) * (1+(r/12))^12n)/((1+(r/12))^12n - 1)] Formula for Balance amount after n instaments is Loan amount * [(1+(r/12))^12*n - (1+(r/12))^12*p]/[(1+(r/12))^12n - 1] Here n is B 3 in years p is B6 in years r is B4 put the number Baloon payment if specified put the amount in B5 or put zero Baloon payment is defied as Max (B5, amount calculated in B11 using formula given above)

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