Assignment:
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.
1. The Excel PMT function is used to calculate the payment for a loan based on constant payments and a constant interest rate.
2. Click here for more information on how to use the PMT function.
To complete this assignment, perform the following tasks:
1. 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.
2. 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.
3. Calculate the payment on B10 and E10.