Order Engineering Excel Assignment

Order Engineering Excel Assignment
Upon completion of the assignment, save and upload your Excel File using the Assignment 5 link in eCampus.
1. Plotting simple functions
Open a new Excel file and create 3 worksheets as described below.
2. DEVELOPMENT OF LOAN AMORTIZATION TABLE
Order Engineering Excel Assignment
In this exercise, we will learn how to use spreadsheets to solve simple accounting problems. We will also learn how easy it is to use multiple formulas within Excel. The handout is prepared with instructions to be used in Microsoft’s Excel 2007. Some of the instructions are similar if an earlier version of Excel is used; however, it is required that you use Excel 2007 or a later version for all the exercises in this class.
Loan Amortization tables show how much you owe a bank every month when you borrow money from them. This specific problem is a useful practical example adapted from a problem discussed in Engineering with Excel, by R.W Larson. Let us assume that you recently graduated and bought a brand new Ford Mustang (with cool white stripes, of course!). Thanks to government bailouts you got a nice deal of $25,000 at an annual percentage rate (APR) of 6%, with no down payment. You want to pay the loan within 5 years.
Order Engineering Excel Assignment
In this exercise, you will create an amortization table (monthly basis) that shows your payment, how much went as interest, how much principal was paid, and the amount you owe to the bank. The primary concept in preparing this table is that, each time you make a payment, you have to pay interest on the outstanding borrowed amount, called Principal. The amount that exceeds the interest amount paid reduces the principal before the next payment. Before we proceed into the detailed calculations, we have to set up a spreadsheet for your loan. We will design a general layout to organize information and make it easy to understand

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