Assignment: Major Purchases
Identify costs associated with purchasing major purchases and/or buying and selling a home.
Instructions:
Using MS Excel, create an amortization schedule for a car loan. Open MS Excel and click New, in the templates search for "car loan" and then choose loan amortization schedule from the options presented. Fill out the form with data from a car purchase you may have been thinking about recently. Answer the following questions:
1. What is your payment?
2. What is your total paid in interest?
3. How long is your loan? Why did you choose this term length?
4. What interest rate did you use? Why?
5. Is this car affordable in your budget?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.