Liam has three other options for purchasing the Charles Street property. In the first scenario, he could borrow additional money to fund a renovation of the building. He wants to determine the monthly payment for the renovation. Use the monthly interest rate, the loan period in months, and the loan amount to calculate the monthly payment for the renovation scenario.In the second scenario, Liam could pay back the loan in 20 years instead of 15 and reduce his monthly payments to $6,000 with an annual interest rate of 4.5%. He wants to know the loan amount he should request with those conditions. Use the monthly interest rate, the loan period in months, and the monthly payment to calculate the loan amount for the 20-year scenario.In the third scenario, Liam could pay back the loan for eight years with a monthly payment of $8,000 and then renegotiate better terms. He wants to know the amount remaining on the loan after eight years, or the future value of the loan. Use the monthly interest rate, the loan period in months, the monthly payment, and the loan amount to calculate the future value of the loan for the eight-year scenario.Liam plans to print the Scenarios section of the Loan Calculator Prepare for printing as follows:Set the entire row that contains the headings as the print titles for the worksheet.Set the area that contains the headings and data as the print area. PasteFileG10Clipboard N14157 Down Payment8 Loan Amount101112 $131617181920212223242526Home Insert Page Layout FormulasA1 New Office Building2 Loan Calculator34 Date5 Property6 Price27282930◄ ▶RateTrebuchet MS3.95%4.05%4.15%4.25%4.35%4.45%4.55%4.65%4.75%4.85%4.95%5.05%5.15%B I UI7,014$$Ş$$$Ş$$Charles Street$$$$$FontB$S*****Varying Interest Rates and Terms11ALoan Payment Calculator2024-09-15 Rate120A^ ATerm in Months1,150,000 Monthly Payment230,000 Total Interest920,000 Total CostV9,292.71 S9,336.43 S9,380.28 $9,424.25 S9,468.35 S9,512.58 $9,556.92 $9,601.40 $9,645.99 Ş9,690.71 $9,735.56 Ş9,780.53 $9,825.62 $Number of Months180Review View Helpab Wrap Text=====Merge & Center|||||||DataD6,782.10 $6,828.20 $6,874.49 $6,920.96 $6,967.62 $7,014.45 $7,061.47 $7,108.67 $7,156.05 S7,203.62 $7,251.36 $7,299.29 $7,347.39 $4.45%180S 7,014.45$ 342,601.29$ 1,492,601.292405,550.815,599.295,648.005,696.965,746.155,795.575,845.235,895.135,945.265,995.626,046.216,097.036,148.09AlignmentEFScenariosLoan AmountAnnual Interest RateMonthly Interest RateLoan Period in YearsLoan Period in MonthsStart DateMonthly PaymentFuture ValueDocumentation Loan Calculator Properties Equipment Loan+NCustom$ % 9.00 -0.00GRenovation$ 1,020,0004.45%0.37%151802025-01-03n/aNumberH20 Years4.25%0.35%20240$2025-01-03$ (6,000) $n/aN|Conditional Format as CellFormatting Table StylesStyles8 Years920,0004.45%0.37%8962025-01-03(8,000)⠀KLInsert Delete FormatMCellsN0PAYOSort & Find &Filter ✓ SelectEditingQRShareS▶

In the first scenario, Liam is considering borrowing additional money to renovate the Charles Street…

Answered: Liam plans to print the Scenarios…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter1: Business Transactions (ptrans)

Section: Chapter Questions

Problem 7R

See similar textbooks

Related questions

Question

Liam has three other options for purchasing the Charles Street property. In the first scenario, he could borrow additional money to fund a renovation of the building. He wants to determine the monthly payment for the renovation.

Use the monthly interest rate, the loan period in months, and the loan amount to calculate the monthly payment for the renovation scenario.
In the second scenario, Liam could pay back the loan in 20 years instead of 15 and reduce his monthly payments to $6,000 with an annual interest rate of 4.5%. He wants to know the loan amount he should request with those conditions.

Use the monthly interest rate, the loan period in months, and the monthly payment to calculate the loan amount for the 20-year scenario.
In the third scenario, Liam could pay back the loan for eight years with a monthly payment of $8,000 and then renegotiate better terms. He wants to know the amount remaining on the loan after eight years, or the future value of the loan.

Use the monthly interest rate, the loan period in months, the monthly payment, and the loan amount to calculate the future value of the loan for the eight-year scenario.
Liam plans to print the Scenarios section of the Loan Calculator Prepare for printing as follows:
1. Set the entire row that contains the headings as the print titles for the worksheet.
2. Set the area that contains the headings and data as the print area.

Paste
File
G10
Clipboard N
14
15
7 Down Payment
8 Loan Amount
10
11
12 $
13
16
17
18
19
20
21
22
23
24
25
26
Home Insert Page Layout Formulas
A
1 New Office Building
2 Loan Calculator
3
4 Date
5 Property
6 Price
27
28
29
30
◄ ▶
Rate
Trebuchet MS
3.95%
4.05%
4.15%
4.25%
4.35%
4.45%
4.55%
4.65%
4.75%
4.85%
4.95%
5.05%
5.15%
B I U
I
7,014
$
$
Ş
$
$
$
Ş
$
$
Charles Street
$
$
$
$
$
Font
B
$
S
*****
Varying Interest Rates and Terms
11
A
Loan Payment Calculator
2024-09-15 Rate
120
A^ A
Term in Months
1,150,000 Monthly Payment
230,000 Total Interest
920,000 Total Cost
V
9,292.71 S
9,336.43 S
9,380.28 $
9,424.25 S
9,468.35 S
9,512.58 $
9,556.92 $
9,601.40 $
9,645.99 Ş
9,690.71 $
9,735.56 Ş
9,780.53 $
9,825.62 $
Number of Months
180
Review View Help
ab Wrap Text
=====Merge & Center
|||||||
Data
D
6,782.10 $
6,828.20 $
6,874.49 $
6,920.96 $
6,967.62 $
7,014.45 $
7,061.47 $
7,108.67 $
7,156.05 S
7,203.62 $
7,251.36 $
7,299.29 $
7,347.39 $
4.45%
180
S 7,014.45
$ 342,601.29
$ 1,492,601.29
240
5,550.81
5,599.29
5,648.00
5,696.96
5,746.15
5,795.57
5,845.23
5,895.13
5,945.26
5,995.62
6,046.21
6,097.03
6,148.09
Alignment
E
F
Scenarios
Loan Amount
Annual Interest Rate
Monthly Interest Rate
Loan Period in Years
Loan Period in Months
Start Date
Monthly Payment
Future Value
Documentation Loan Calculator Properties Equipment Loan
+
N
Custom
$ % 9.00 -0.00
G
Renovation
$ 1,020,000
4.45%
0.37%
15
180
2025-01-03
n/a
Number
H
20 Years
4.25%
0.35%
20
240
$
2025-01-03
$ (6,000) $
n/a
N
|
Conditional Format as Cell
Formatting Table Styles
Styles
8 Years
920,000
4.45%
0.37%
8
96
2025-01-03
(8,000)
⠀
K
L
Insert Delete Format
M
Cells
N
0
P
AYO
Sort & Find &
Filter ✓ Select
Editing
Q
R
Share
S
▶

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 6 steps with 5 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Liam plans to print the Scenarios section of the Loan Calculator Prepare for printing as follows: Set the entire row that contains the headings as the print titles for the worksheet. Set the area that contains the headings and data as the print area.