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Jason Abbuhl CIT 110 1/22/10 Final Assignment For the loan amortization table assignment we were to compute the interest for loans of varying lengths and interests rates. We computed the loan payments that we would have to pay for a $50,000 school loan at 5.5% interest, a $15,000 auto loan at 8.25% interest, and $100,000 home loan at 6.75% interest. We also created a table to sum our total payments for all of these loans. We were also able to use these tables to compute the interest rates and loan lengths we could afford. This was done by computing the values that were needed to keep our payments under a certain amount, an important skill for students on a budget. I chose this assignment because it shows how I can use computing technology to solve problems. I can use this sort of table throughout life to help me budget my money and determine the types of loans I will need in the future. This assignment also demonstrates how I am able to use a program such as excel. It also shows how I able to form a webpage, since I was able to link this assignment to my webpage after I completed it. A change I may have made to this assignment is to include ways to compute different payment methods, such as a balloon loan or student loans which don’t begin collecting interest for a certain length of time. This class showed how to use a wide variety of programs that will be useful in the future. The work with excel was most useful because it is information anyone can use to handle their budget or organize other data. It may have even been beneficial to spend more time working with this program to learn these things. I also felt the time spent in class actually working with the programs was most beneficial, because we could ask any questions if we were having any problems. Most days plenty of time was devoted to this, but considering how helpful I found it, if there was more time spent doing this it still would have been helpful.
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