Goal-seek Loan Amortization Schedule Amount of the loan: $500,000 Length of the loan: 30 years Payment:...

Goal-seek Loan Amortization Schedule

Amount of the loan: $500,000

Length of the loan: 30 years

Payment: Equal annual payment

Interest rate: Annual interest rate is 3.0% in year 1, and increases 0.1% in year 2, etc. In other words, the annual interest rates will be 3.0%, 3.1%, 3.2%,….

M1 Assignment - Goal-seek Loan Amortization Schedule Rubric

Successfully created year-by-year table with Year, Beginning balance, PMT, interest, principal, ending balance	3 pts
Successfully created a column to reflect floating interest rates	1 pt
Successfully utilized goal seek to calculate loan annual payment	1 pt
Total	5 pts

Expert Solution

Data ---> what if analysis---> goal seek

jeff jeffy answered 1 year ago

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