Project Title
Home Mortgage
Author
David Graser, Yavapai College, Prescott, AZ (David_Graser@yc.edu)
Abstract
I found the guts of this project online several years ago and have lost the original source. This project aims to have the student create two Excel worksheets for purchasing a home. In one worksheet, student compute the payment on a mortgage. If the worksheet is linked properly, they can change the purchase price and see how it affects the payment. In the second worksheet, they create an amortization schedule.
Project Content
Scaffolding Resources
Handout: Basic Information Chart - DOC | PDF
Handout: Mortgage Program Chart - DOC | PDF
Technology Assignment: Compute the Payment in Excel - DOC | PDF
Video: How to Make an Amortization Table in Excel
Notes
If you know where the original source for this project is, contact me so that I can give them credit.
The toughest part of this project is solving for the downpayment D in the Tech Assignment. Student want to put numbers into the formula provided first, and then sole it for D. This gives the downpayment for that purchase price, but does allow the cells to be linked. When the cells are not linked, you cannot update the downpayment as the purchase price is changed.
