Bank Example

Customer Sterfield Sceria Subensklee Sritzen Sango Satt Sro Sweitzer Ster Seller Agent Allan John Allan John Allan John Allan John Allan $ $ $ $ $ $ $ $ $ Selling Price 258,900 328,950 198,000 178,350 333,000 768,650 358,000 458,000 168,900 Loan Term 30 15 15 30 30 20 15 20 30 Amount to be Interest Rate Down Payment Financed 5.25% $ 64,725 $ 194,175 4.50% 49342.5 $ 279,608 4.50% 29700 $ 168,300 5.25% 44587.5 $ 133,763 5.25% 83250 $ 249,750 5.00% 153730 $ 614,920 4.50% 53700 $ 304,300 5.00% 91600 $ 366,400 5.25% 42225 $ 126,675

Loan Term 15 20 30

% Required Interest Rate Down Pmt 4.50% 15% 5.00% 20% 5.25% 25%

Sellers Commission $ John $ Allan $

# 8,035.63 5,473.50 4 5

question

1) Using one of the functions described, get the correct number in column E. It should be one formula that will use the correct %. Then, using the chart at the bottom left and the same function fill out column F( 2) Calculate the amount to be financed (Selling price down payment) in column 3) Fill out the commission to be paid out to each agent. It should be calculated as follows. They get paid only They actually get paid: 2.5% if that amount is over or equal to $200,000 1.5% if it is lower than $200,000 4) The branch has an extra bonus where the bank manager will receive $10,000 for any loan that is over (amount to be financed) of 20 years or more AND an interest rate of 5% or more. Please enter a formula in give you the bonus amount for each loan

Commiss ion $ 971 $ 1,234 $ 446 $ 669 $ 2,081 $ 3,843 $ 1,343 $ 2,290 $ 633

Bonus $ $ $ $ $ $ 10,000 $ $ 10,000 $ -

e formula that you can then drag down that ut column F(using VLookup function) ent) in column G get paid only on the amount to be financed. o $200,000

an that is over $250,000 with a loan term er a formula in I4 that you can drag that will