Need help with Excel worksheet....I'm lost.

I have to complete this assignment in the next few hours and have no idea
where to begin....any help would be sincerely appreciated.

Here it is:

A man has 5 years remaining on a six year car loan, his interest rate is 8.25%

and his monthly payment is $525.00. His credit union is willing to accept the
present value (PV) of the loan as a payoff. Develop an amortization schedule
that shows how much he must pay at the end of each of the six years. Then
create a worksheet that includes the beginning and ending balance, the amount
paid on the principal and the interest paid for years two through six.
Because he has paid for the first year already, determine only the ending
balance (present value) for year one. 

I know this may come easy to someone but I am completely lost here. Please
help!

Thanks a million
Theresa

0
Theresa
5/13/2007 2:07:21 AM
excel.newusers 15348 articles. 2 followers. Follow

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Check one of your other posts.

Theresa wrote:
> 
> I have to complete this assignment in the next few hours and have no idea
> where to begin....any help would be sincerely appreciated.
> 
> Here it is:
> 
> A man has 5 years remaining on a six year car loan, his interest rate is 8.25%
> 
> and his monthly payment is $525.00. His credit union is willing to accept the
> present value (PV) of the loan as a payoff. Develop an amortization schedule
> that shows how much he must pay at the end of each of the six years. Then
> create a worksheet that includes the beginning and ending balance, the amount
> paid on the principal and the interest paid for years two through six.
> Because he has paid for the first year already, determine only the ending
> balance (present value) for year one.
> 
> I know this may come easy to someone but I am completely lost here. Please
> help!
> 
> Thanks a million
> Theresa

-- 

Dave Peterson
0
petersod (12004)
5/13/2007 3:09:15 AM
multi posting is a sin
-- 
Don Guillett
SalesAid Software
dguillett1@austin.rr.com
"Theresa" <u34137@uwe> wrote in message news:7217da576e6f9@uwe...
>I have to complete this assignment in the next few hours and have no idea
> where to begin....any help would be sincerely appreciated.
>
> Here it is:
>
> A man has 5 years remaining on a six year car loan, his interest rate is 
> 8.25%
>
> and his monthly payment is $525.00. His credit union is willing to accept 
> the
> present value (PV) of the loan as a payoff. Develop an amortization 
> schedule
> that shows how much he must pay at the end of each of the six years. Then
> create a worksheet that includes the beginning and ending balance, the 
> amount
> paid on the principal and the interest paid for years two through six.
> Because he has paid for the first year already, determine only the ending
> balance (present value) for year one.
>
> I know this may come easy to someone but I am completely lost here. Please
> help!
>
> Thanks a million
> Theresa
> 

0
dguillett1 (2487)
5/13/2007 2:34:38 PM
Sorry, I was in a panic and didn't read the rules before I began. I hope the
God's of the website will forgive me!




Don Guillett wrote:
>multi posting is a sin
>>I have to complete this assignment in the next few hours and have no idea
>> where to begin....any help would be sincerely appreciated.
>[quoted text clipped - 20 lines]
>> Thanks a million
>> Theresa

-- 
Message posted via OfficeKB.com
http://www.officekb.com/Uwe/Forums.aspx/excel-new/200705/1

0
Theresa
5/13/2007 2:40:28 PM
The website Gods will forgive but mollifying Stan is another matter<g>


Gord Dibben  MS Excel MVP

On Sun, 13 May 2007 14:40:28 GMT, "Theresa via OfficeKB.com" <u34137@uwe> wrote:

>Sorry, I was in a panic and didn't read the rules before I began. I hope the
>God's of the website will forgive me!
>
>
>
>
>Don Guillett wrote:
>>multi posting is a sin
>>>I have to complete this assignment in the next few hours and have no idea
>>> where to begin....any help would be sincerely appreciated.
>>[quoted text clipped - 20 lines]
>>> Thanks a million
>>> Theresa

0
Gord
5/13/2007 3:16:59 PM
Reply:

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