Answer & Explanation: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. Design your calculator so that the user can easily see where they are supposed to enter their numbers (input), and where they should look to get their results (output).

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.
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.
excel_3.docx

Unformatted Attachment Preview

Excel 3: Loan Payment Calculator
Description
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.
Guidelines
• Design your calculator so that the user can easily see where they are supposed to
enter their numbers (input), and where they should look to get their results
(output).
o Input numbers: Loan Amount, APR, Number of Years to Repay the Loan
o 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.
• 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.
Deliverable
Submit the workbook electronically via Blackboard.
Rubric
Please look at the grading rubric on Blackboard prior to starting the assignment to
familiarize yourself with how the assignment will be graded.

attachment

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