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Final Assignment

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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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