Project Requirements:

Build an Excel spreadsheet to compute a loan's payment amount and create a car loan Amortization Schedule -- based on the principal amount borrowed, the length of the loan and the annual interest rate.

Principal amount borrowed = $20,000;

Annual Interest Rate: 5.50%;

Payment interval is monthly payment;

# of Payments = 24;

Use Excel formula to calculate the monthly payment;

Create a schedule of payment (similar to the one shown in Appendix);

Appendix gives an example for your reference. You may design your worksheet

differently and may include the information of total interests paid;

Project outcomes:

Format your worksheet nicely and print it in one page as a PDF file. You need to print the file twice. One is showing the schedule, and the other showing the formulas. Make sure your print out includes a title, your name, and date.