Loan Amortization The owners are considering purchasing a sixth apartment complex for $850,000…

Loan Amortization

The owners are considering purchasing a sixth apartment complex for $850,000 with a down payment of $375,000 for 30 years at 5.75% with the first payment due on March 20, 2012. You need to perform internal calculations and build a loan amortization table.

a. Click the Loan worksheet tab.

b. Enter the loan parameters in the Input Area, and then insert formulas to perform calculations in the Summary Calculations.

c. Complete the loan amortization table. Use a date function for the payment date column and financial functions for the interest paid and principal payment columns.

d. Create a footer with your name on the left side, the sheet name code in the center, and the file name code on the right side of each worksheet. Adjust page setup options as needed.

e. Save and close the workbook, and submit based on your instructor’s directions.

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