Task

Task #1

To complete the 5.08 Loan Amortization task, open the Loan Amortization Schedule template you downloaded and used in the Try It.

In your template, enter the following values:

  • $9,000 loan
  • 8% annual interest
  • 4 year loan period
  • Monthly payments (so 12 payments per year)
  • Today is the loan's start date

Hit enter to see your loan amortize.

For the optional extra payment, you can enter $10 or $50 in the field and see how it affects your loan. But you do not have to have an optional extra payment.

Submit your completed spreadsheet to the 5.08 Loan Amortization Dropbox.