Question

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Excel 5 Information Computerized Accounting (ACCT-2230-LN01) 2020FA 8312020 Excel #5 Information Financial Planning Exercise - Payment (PMT) Functions Exercise Below is an example of purchasing a new $20,000 car, financing it for 5 years at a 9 percent interest rate, and determining the monthly payment amount. The correct answer for the Monthly Payment is shown, but you will be creating your own PMT statement to compute this amount. Instructions 1. Use MS Excel to create the Monthly Payment Planner worksheet shown below. 2. Save this file as Lesson 2 - Financial Planning 1. 3. Delete the $415.17 and enter a PMT function to compute the Monthly Payment amount. It can remain a negative number. All outflows of cash should be entered as negatives. 4. Proofread, make sure your spreadsheet is neatly formatted, make corrections, and place your name in a centered footer. Monthly Payment Planner Loan 20,000 Rate 9.00% Years 5 Monthly Payment $415.17 Financial Planning Exercises - Future Value (FV) Functions Exercise NEN

Answer 1

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Financial Planning exercise-PMT function
Purchase price	20000
Rate	9%
Time Period	5
Down payment	0
PMT	₹ -415.17
	PMT(I6/12,I7*12,I5,0)
Financial investment planner
Intial Invenstment	8000
Monthly Invenstment	125
rate	8.75%
years	20
Future value	₹ 1,26,628.54
	FV(C71/12,C72*12,C70,C69,0)
Financial Planning exercise-PV function
Monthly Payment	600
rate	7.25%
Year	30
Present Value	₹ 87,953.81
	PV(J25/12,J26*12,J24,0)