Payment Loan Amortization Schedule based on the 5 inputs . This spreadsheet should work for any scenario chosen using the 5 inputs below that does not exceed 360 periods. You may start with any 5 inputs as these will be changed multiple times during grading. All cells with number format should have no decimal places. All cells with accounting format should have 2 decimal places. All cells with percentage format should have 3 decimal places. Formulas must use appropriate cell addressing and be efficiently copied to complete the schedule. Every number within the spreadsheet must be positive. You must use the given template and follow the directions within the template. Cells appear at the top left that include:
Inputs for:
Purchase Price – accounting format
Down Payment – accounting format
Number of Years – number format
Compounding periods per year – number format
Annual Interest Rate – percentage format
Formulas for:
Principle – accounting format
Payment – accounting format
Cells appear at the top right that include formulas for:
Total Amount Paid – accounting format
Total Interest Paid – accounting format
An amortization schedule able to accommodate any scenario appears at the bottom containing 6 columns and up to 360 rows of numbers and formulas with the following titles:
a. Period Number – number format
b. Beginning Balance – accounting format, dollar sign in first row only
c. Payment – accounting format, dollar sign in first row only
d. Interest – accounting format, dollar sign in first row only
e. Principle Repaid – accounting format, dollar sign in first row only f. Ending Balance – accounting format, dollar sign in first row only
Using logic and the Excel capabilities, format the spreadsheet as follows. When a number of periods smaller than 360 are required, all rows below the last significant row must be blank (i. e. no rows visible beyond the total number of periods, no negative or extremely large and unnecessary numbers).