Using MS Excel spreadsheet, create an assessment for each of the following problems:
Calculate the monthly mortgage payment of principal and interest for a loan with an initial balance of $250,000, an annual stated interest rate of 5%, and 30 years to maturity. Use Excel to develop this response and present your result within a separate page of the spreadsheet. Would only someone who makes a high income be able to afford this mortgage payment? Or would someone who makes the minimum wage be able to afford this mortgage payment?
Develop the amortization table for the loan outlined in problem 1. Use an Excel spreadsheet to develop and present this table. Present this result in a separate page of the spreadsheet.
Use the structure of problem 1 to develop a summary table that shows how the monthly payment would adjust for all options with an interest rate at 4%, 5%, and 6% as well as a maturity at 15 years, 20 years, and 30 years. Use Excel to develop and present this summary table. Present the results in a separate page of the spreadsheet.
Assume that you want to retire in 30 years. You intend to invest $500 per month into a mutual fund that you expect to return 8% per year. If you continue making these monthly investments for 30 years, what amount of money will you have at the end of the 30th year? Use Excel to develop and present this result. Present the result in a separate page of the spreadsheet.
Use problem 4 to develop a summary table that shows the accumulation for all options with an assumed return of 6%, 7%, 8%, 10%, and 12% as well as an investment of $100, $500, and $750. Use Excel to develop and present this summary table. Present the result in a separate page of the spreadsheet.
Write your answers to the qualitative questions in an MS Word document and paste your spreadsheet analyses into the document.
Length: 5-7 pages, not including title or reference pages
References: Include a minimum of 5 scholarly resources