**PART A. THE “AMORTISATION SCHEDULE” SPREADSHEET**

- Download the Excel Assignment Template file from ‘Assessment Tasks’ section under the ‘Excel Assignment’ label in iLearn.
- Save it with the name: [Student family name_ID number].xlsx

(Eg. Wong_43567859.xlsx (*a penalty applies **for the wrong file name convention*)

- Input your student number digit by digit in cells F2 to M2. You must input
otherwise__your own____student ID__will apply.__a penalty of 7.5 marks__ - Enter your name into the cells shown at cells O2 and O3.
- In cell C2, calculate the number of years for the loan as the sum of the
__first__in your student number using the**four**digits**=SUM()**function and referencing cell locations.__Marks____will be deducted if you have + signs inside the brackets.__ - In cell C3, calculate the number of months for the loan based on the result in cell C2.
- In cell C4, the nominal annual interest rate compounding monthly is computed automatically with the input of student number (expressed as a percentage) .
- In cell C5, calculate the monthly interest rate for the loan based on the result in cell C4.
- In cells C7, the amount of the initial loan is computed automatically with the input of student number.
- In cell C8, calculate the constant month-end repayment (as a
__positive__number) using**=PMT()**, referencing cell locations only from among those in cells C2 to C7. - Prepare a loan amortisation schedule to show the month-by-month reduction in the out-standing loan balance
__to zero__, using the following detailed steps:- Starting at cell A12, create month labels in terms of integers (e.g., 1, 2, 3, …) in column A by using a new row for each month of the loan.
- Show the monthly interest paid by month (as a positive amount), in column C referencing cell locations as inputs to your formula.
- Show the monthly principal paid by month (as a positive amount), in column D referencing cell locations as inputs to your formula.
- Calculate the corresponding balance at the beginning (column B) and at the end of each month (column E) using formulas that reference cell locations.
- Note that the dollar amounts in columns C and D are occurring at the end of the month, whereas the balance amounts in columns B and E are defined clearly in the column headings of the schedule.
- In Columns B, C, D, E you must use relative and absolute cell references where required. This means that the contents of
__cell B13, C12, D12 and E12, can be____copied down__the columns to the end of the loan.

- Note that ALL the cells in the amortisation schedule must be calculated with appropriate Excel functions referencing cell locations (that is, do not “hardcode” any number in any of the cells). Marks are deducted for ‘hardcoding’.
__Do not round__any numbers in the amortisation schedule.- Use a
__currency format (with 2 decimal places)__in all cells in columns B to E of your schedule, showing dollars and cents e.g. $164,035.38.

**PART B. ADDED QUESTIONS SPREADSHEET**

- Based on the amortisation schedule inputs in Part A, calculate the answers to Q1 to Q5 in cells C3, C5, C7, C9, and C11, respectively, in the work-sheet `Added Questions’ by using, in each of your answers to Q1 to Q5, at least one of the following Excel TVM functions:

**=PV(), =FV(), =PMT(), =RATE(), =NPER(), =IPMT(), =PPMT(), =CUMIPMT(),=CUMPRINC() **

- Some questions require you to combine the TVM function with either other TVM functions, other cell references or with numbers.
- You must
__reference__existing cells from the “Amortisation Schedule” or “Added Questions” worksheet for key inputs.

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