Question

OpenOffice Calc

Print out the screenshots of the Sheet showing 3 scenarios.

Steps
To apply What-if scenarios to compare loan EMIs from 3 different banks to purchase a property.
STEPS
enter values for Row Labels - Bank Name, Property Name, Area in Sq ft, Total price, Down
payment, Loan Interest %, Term in years.
• Below the data, enter Row Labels for Outstanding Principal, Total Interest Payable, Monthly
EMI
• Apply the correct formulae to calculate the above in the cells to the right of the Row Labels.
• Keeping the term constant, we have to compare EMIs for Housing loans from 3 different
banks.

Answer 1

I understand that you're looking to create and compare loan EMIs from three different banks to purchase a property using OpenOffice Calc.

Step-by-step explanation:

I'll guide you through the steps to set up these scenarios:

Enter Data:

Start by entering your data in the spreadsheet. Here's an example layout for your data:

Bank Name Property Name Area in Sq ft Total Price Down Payment Loan Interest % Term in years

Bank A Property 1 1000 200000 40000 5.00% 15

Bank B Property 1 1000 200000 40000 4.75% 15

Bank C Property 1 1000 200000 40000 5.25% 15

And so on for your other properties and banks.

Calculate Relevant Metrics:

You'll need to calculate metrics such as Outstanding Principal, Total Interest Payable, and Monthly EMI for each bank. Below your data, enter the following labels:

Outstanding Principal Total Interest Payable Monthly EMI

Apply Formulas:

For each bank's row, use formulas to calculate the required metrics. Here's a general idea of how you can set up the formulas:

Outstanding Principal (Assuming this is column G):

The outstanding principal for each year can be calculated using the formula: Total Price - Down Payment - SUM of previous year's principal payments.

Total Interest Payable (Assuming this is column H):

The total interest payable can be calculated using the formula: (Loan Interest % / 100) * Outstanding Principal.

Monthly EMI (Assuming this is column I):

The monthly EMI can be calculated using the formula: PMT(Loan Interest Rate / 12, Term * 12, -Outstanding Principal).

Note: The PMT function can be used to calculate the monthly payment for a loan. It takes the rate, number of periods, and present value (negative of the outstanding principal).

Compare EMIs:

With the calculated EMIs for each bank, you can now easily compare the EMIs for different banks for the same property and loan term.

Print Screenshots:

To print screenshots of the sheet showing the three scenarios, you can use the "Print Screen" button on your keyboard to capture the screen content. You can then paste the captured image into an image editing tool (like Paint) and save it. Repeat this process for each scenario.

Remember, the actual formulae might vary based on the specific functions and syntax used in OpenOffice Calc. It's important to consult the OpenOffice Calc documentation for accurate formula usage.

Lastly, this is a simplified guide, and the actual implementation might involve additional factors and calculations. Make sure to double-check and test your formulas before making decisions based on the calculated data.