5.08 Task 1 – Loan Amortization

5.08 Task 1 ? Loan Amortization

1. Open Excel 2. Click on the Microsoft button 3. Select New

4. Click on Installed

Templates

5. Select the Loan Amortization template. 6. Click Create.

7. Your screen will look like the one below.

Enter the following information for these cells:

Loan amount:

9,000.00

Annual interest rate: 8

Loan period in years: 4

Number of payments per year: 12

Start date of loan: Use the current date

Optional extra payment:

You do not have to enter anything here, just press the enter key. The loan will amortize for you. You can go back and enter $10 or $50 in the optional extra payment field and see how it affects your loan.

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download