Exp22_Excel_Ch02_HOE – Townsend Mortgage Company homework help
Exp22_Excel_Ch02_HOE – Townsend Mortgage Company homework help
Excel Chapter 2 Hands-On Exercise – Townsend Mortgage Company
Exp22_Excel_Ch02_HOE – Townsend Mortgage Company
Exp22 Excel Ch02 HOE – Townsend Mortgage Company
Project Description:
You are an assistant to Yui Matheson, a mortgage broker at the Townsend Mortgage Company. Yui spends days reviewing mortgage rates and trends, meeting with clients, and preparing paperwork. Yui relies on your expertise in using Excel to help analyze mortgage data. Today, Yui provided you with sample mortgage data: loan number, house cost, down payment, mortgage rate, and the length of the loan in years. She asked you to perform some basic calculations so that the output provided by her system can be checked to verify that it is calculating results correctly. You have also been tasked with calculating the amount financed, the periodic interest rate, the total number of payment periods, the percentage of the house cost financed, and the payoff year for each loan. In addition, you will calculate totals, averages, and other basic statistics. Furthermore, Yui asked you to complete another worksheet that uses functions to look up interest rates from a separate table, calculate the monthly payments, and determine how much (if any) the borrower will have to pay for private mortgage insurance (PMI).
Start Excel. Download and open the file named Exp22_Excel_Ch02_HOE_Loans.xlsx. Grader has automatically added your last name to the beginning of the filename.
You would like to create a formula to calculate the amount financed for each loan.
Enter a formula in cell D8 to calculate the amount financed for the first mortgage. Once completed, copy the formula down completing column D.
You would like to create a formula to calculate the monthly interest rate per period for each loan.
Enter in formula in cell F8 to calculate the monthly interest rate for the first loan. Add the appropriate absolute cell reference for cell B5 and then use the fill handle to copy the formula down completing column F.
You would like to calculate the total number of payment periods for each loan. To complete the task, you will use a mixed cell reference as an alternative to an absolute cell reference.
Enter a formula in cell H8 to calculate the total number of payment periods per loan. Use an appropriate mixed cell reference for cell B5 and then use the fill handle to copy the formula down completing column H.
You would like to calculate the total value of the homes being financed.
Use AutoSum in cell B16 to calculate the total value of all homes sold.
You would like to calculate the average value of all homes being purchased.
Use AutoSum in cell B17 to calculate the average value of all homes being purchased.
You would like to calculate the median value of all homes being purchased.
Enter a function in cell B18 to calculate the median value of all homes being financed.
You would like to display the cost of the least expensive home.
Enter a function in cell B19 to display the value of the least expensive home financed.
You would like to display the value of the most expensive home financed.
Enter a function in cell B20 to display the most expensive home financed.
You would like to determine the total number of homes financed.
Enter a function in cell B21 to count the total number of homes being financed based on the values column B.
To complete your calculations you will use the fill handle to copy the previously created functions.
Use the fill handle to copy the functions in the range B16:B21 through the range C16:D21.
You would like to test the functions you created by editing one of the values in the worksheet.
Edit the value in cell B9 to 425000. Note the results of the formulas are now updated.
It is a good practice to insert the date in a worksheet containing financial information. You will use the TODAY function to insert the current date in cell B4.
Use the TODAY function to insert the current date in cell B4.
You would like to use a lookup function on the Payment Info worksheet to determine the annual percentage rate (APR) of homes financed based on the lookup table in the range D4:E6.
Use the XLOOKUP function in cell G9 to determine the APR based on the years financed in cell F9, lookup array in the range D4:D6, and return array in the range E4:E6. Be sure to use the appropriate absolute cell referencing. Then use the fill handle to copy the function down completing column G.
Next you will calculate the total payment for each mortgage financed.
Use the PMT function in cell H9 to calculate the monthly payment based on the APR in cell G9, years financed in cell F9, and amount financed in cell D9. Ensure the final value is positive. Use the appropriate absolute cell references and then copy the function down completing the column.
For your last step you will determine the monthly personal mortgage insurance (PMI) if applicable. Since not all mortgages require PMI, you will use the IF function.
Enter an IF function in cell I9 to determine the monthly PMI if applicable. The mortgage requires PMI if the percent of down payment is less than 20% (cell B7). If the mortgage requires PMI it is .38% of the amount financed. Be sure to use the appropriate absolute cell references for the input values and then use the fill handle to copy the function down completing the column.
Save and close Exp22_Excel_Ch02_HOE_Loans.xlsx. Exit Excel. Submit the file as directed.
Do you need a similar assignment done for you from scratch? Order now!
Use Discount Code "Newclient" for a 15% Discount!
