loan payment calculator
In this assignment, you will create a small information system that you could give to someone to help them calculate a loan payment.As with all information systems, the system will have to collect information from the user (input), process it, and then display the result (output).The results will also include a sensitivity analysis so that the user can see how the loan payment is influenced by changes in the interest rate and loan amount.You will use Microsoft Excel to create this loan payment calculator.The ability to calculate a loan payment is important in many personal and professional decisions, as businesses take out loans to cover startup costs and individuals take out loan to pay for cars and homes.
- Input numbers: Loan Amount, APR, Number of Years to Repay the Loan
- Output numbers: Monthly Loan Payment, Total of Payments, and Finance Charge
- Use the payment function to calculate the monthly loan payment.
- Name each cell for the above Input and Output numbers, and use those in the formulas.
- Be sure to designate where users should enter numbers and where they should not using the design techniques.
- Include a copyright symbol with your name at the bottom.
- Perform a sensitivity analysis to see how payments change as a function of interest rates and loan amount.
- For the sensitivity analysis, please use the numbers in the example
- A sample design is shown below, but you should create your own and not copy this one.
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