In this project, you will realize that you really need to invest in a new computer to complete course assignments for the school’s use. You will create a worksheet, use the PMT function, and format a worksheet to show a comparison of two electronic computers that you are interested in purchasing. You will make a comparison of the two items and determine which one is feasible to purchase.
- The Excel PMT function is used to calculate the payment for a loan based on constant payments and a constant interest rate.
To complete this assignment, perform the following tasks:
- Data has been provided for you to generate a payment for each of the two products to help determine which product is feasible for you to purchase for school purposes. Click here to access the data.
- The loan parameters have been entered into the worksheet. Click in cells B8 and E8 to calculate the amount to finance as Price – down payment – rebate.
- Merge and center the titles in Cells A1:E1. Format your worksheet by including color as well as providing an appropriate clip art to accent the document.
- Indent the content in cells A9:A14 and show the Payment amount in font size 14.
- Indent the content in cells D9:D14 and show the Payment amount in font size 14.
| School Computer Purchase Analysis | ||||
| Desktop Computer | Tablet Computer | |||
| Price of Computer | $2,000.00 | Price of Computer | $700.00 | |
| Down Payment | $500.00 | Down Payment | $200.00 | |
| Rebate | $300.00 | Rebate | $150.00 | |
| Interest Rate | 6% | Interest Rate | 3% | |
| Amount Financed | Amount Financed | |||
| Terms | 1 | Terms | 1 | |
| Payment | Payment | |||
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