Calculate interest rate, Finance Basics

Imagine Joy is the manager of a bank named Money Talks Bank of Virginia. This bank has recently issued new loans to customers. Joy wants you, the business analyst to prepare a report for him. The details of the report and the data are given below. You must use functions to calculate interest rate, down payment, monthly payment, and average selling price for each loan item.

Table values

Loan Term

Interest Rate

% Required for Down Payment

15

0.0575

0.15

20

0.06

0.2

30

0.0625

0.25

 

Customer

Selling Price

Loan Term

 

Allen

265354

30

Arnold

328788

15

Barber

500000

15

Bollis

112485

30

George

350000

30

Hood

761978

20

Morgan

192940

15

Paul

606563

20

Pinder

319765

30

Posted Date: 2/23/2013 2:26:41 AM | Location : United States







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