## Time Share Loan (50 Points) Data File needed for this exercise: TimeShare.xlsx Problem: You have been hired as a loan officer for Durham Vacation properties, a time share company in North Oshawa

##### Description

1. Time Share Loan (50 Points) Data File needed for this exercise: TimeShare.xlsx Problem: You have been hired as a loan officer for Durham Vacation properties, a time share company in North Oshawa. As part of your responsibilities, you calculate loan information for customers who purchase timeshares. You will use Excel to perform loan related calculations and summarize your data.

Enter Your Name and Student ID

(a) Open the workbook named TimeShare.xlsx and save it as Durham TimeShare.xlsx.

(b) In the Documentation worksheet, in cell A1, enter the title Durham Time Shares. In cell B3 enter your name. In cell B4 enter your student number. In cell B5 enter the completion date of your assignment and in cell B6 enter a sentence to describe the purpose of the workbook.

Preliminary Calculations

(a) In cell B2, enter today’s date.

(b) In cells D9:H9 and J9:K9, enter appropriate formulas and/or functions to compute the Down payment, % Financed, Amount financed, Mortgage rate, Rate per period, # of Pmt periods, and Payment amount according the information provide in Table 1.

(c) Use the fill handle to copy the formulas down to row 25.

(d) In cell K29 enter a function to calculate the total monthly payment amount.