As you might guess, one of the domains in which Microsoft Excel really excels is business math. Brush up on the stuff for your next or current job with this how-to. In this tutorial from everyone's favorite digital spreadsheet guru, YouTube's ExcelIsFun, the 30th installment in his "Excel Business Math" series of free video lessons, you'll learn how to solve business math word problems that involve rate of change (increase or decrease).
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1 Comment
Dear WonderHowTo users,
I have buiness math project and I need for help how to solve it on Excel
and this is the project:
Athena secured a 5/1 adjustable rate mortgage (ARM) loan 5 years ago. The amount of the loan was $N (where N = six last digits of your student ID number) for K years (where K = your age), with interest rate 5.50%/year compounded annually. Currently, the interest rate for their ARM (after the reset) is 6.50% compounded annually. (Athena will continue making these new payments for K-5 years until the loan is amortized).
a) What was the annual payment during the first 5 years?
b) What is remaining principal on the loan?
c) What is the new annual payment?
d) Compute the total interest paid over the life of both parts of the loan.
Based on your computations, set up an excel spreadsheet table that records the amount of the outstanding principal, interest and payments in each period and compute the total interest paid over the life of both loans by adding numbers in the interest column.
the doctor gave us today and tomorrow last day for to submit
thanks
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