Spreadsheet Assignment #1

Create a spreadsheet to help in the purchase of a home. Your spreadsheet should calculate:

• Monthly payments
• Total interest paid of the life of the loan
• Amortization table (interest and principle for each payment)

You should be able to change principle, rate, or years and see immediately the effect on the calculations above.

The following online documents should help you prepare the above:

• How do you create an amortization table using the Pmt function? (Use this as your Model for HW)
• What is an amortization table?
• A sample amort.wks file for those used to using Works.