generating a loan approval workbook that will determine if an applicant is eligible for a personal loan and if so, what the loan rate should be based on a set of pre-defined criteria

Unit 2 Assignment: Case Study 1

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In this case study, you have been tasked with generating a loan approval workbook that will determine if an applicant is eligible for a personal loan and if so, what the loan rate should be based on a set of pre-defined criteria. The bank manager has created the basic layout of the application she wants to use but has asked you to provide the formulas that will drive the initial quote.Refer to the attached document for assignment details and grading rubric.

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Approval Form

Application For Personal Loan
First NameLast NameAddressCity, State ZipAnnual IncomeCredit ScoreRequested Amount# of PaymentsDecisionRatePeriodic RatePaymentLook Up Table
MaryBell123 1st StreetPhiladelphia, PA 19104$ 85,000720$ 25,000120Credit ScoreCurrent Rate
JoanHill321 Main StreetPhiladelphia, PA 19104$ 45,500567$ 10,0003605006.50%
LukeSkywaker435 2nd StreetPhiladelphia, PA 19111$ 120,000754$ 35,0002405506.25%
TomHarold987 2nd StreetPhiladelphia, PA 19111$ 80,000625$ 5,000606006.00%
JillMatters876 6th StreetWest Chester, PA 19380$ 60,000500$ 10,0001206505.25%
StevenMarket654 6th StreetWest Chester, PA 19380$ 25,000789$ 2,000207004.50%
HenryFields897 6rh SteetWest Chester, PA 19380$ 45,000820$ 5,000607503.75%
JoeyRuth342 7th StreetWest Chester, PA 19380$ 95,000599$ 20,0001208003.25%

Existing Accounts

IDFirst NameLast NameOriginal AmountRateMaturity DateDays Remaining
1MarkSmith$ 25,0003.50%3/24/23
2JenniferJones$ 32,0003.32%4/30/30
3RobertWhite$ 36,0004.15%9/11/22
4StevenJohnson$ 44,0004.21%7/19/24
5AmyDecker$ 2,5003.85%6/15/22
6VeronicaSanders$ 3,6005.50%11/20/28
7LarkinBaker$ 27,0006.12%9/7/26
8BethanyChapman$ 30,0003.85%1/7/24
9AlexWells$ 55,0003.14%10/24/29
10FrankParker$ 62,0004.65%4/23/25
11HaroldHall$ 34,0004.00%3/11/25
12LouisMcDonald$ 5,5004.99%7/11/28
13DanielCole$ 7,5005.35%12/22/23
14WendyConnors$ 9,0003.80%5/6/28
Max:
Min:
Ave:
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