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Apply Your Knowledge, Calculating Loan Payments Page EX 4 - 5 0 - EX 4 - 5 1 Omit question # 1 1 . Do

Apply Your Knowledge, Calculating Loan Payments
Page EX4-50-EX4-51 Omit question #11.
Do add your initials to cell E3.
Check before you submit that it matches Figure 466.
NOTE: The instructions are not very clear. Don't type in the range in #3 on page 4-50. Instead just select the range and then enter ONLY the column input cell (Interest rate). Leave Row input cell blank!
NOTE 2: Please unblock the data and remove any password protection.
Apply Your Knowledge
Reinforce the skills and apply the concepts you learned in
Calculating Loan Payments
Note: To complete this assignment, you will be required to instructor for information about accessing the Data Files. Instructions: Start Excel. Open the workbook called SC- from which 466. You will consider saved
Figure 4-66
Perform the following tasks:
Select the range B4:C9. Use the 'Create from Selection' button (Formulas tab I Defined Names group) to create names for cells in the range C4:C9 using the row titles in the range B4:B9.
Enter the formulas shown in Table 4-4.
Table 4-4 Loan Payment Calculator and Interest Rate Schedule Formulas
\table[[Cell,Formula],[C8,= Price-Down_Payment],[C9,=- PMT(Interest_Rate/12,12*Years, Loan_Amount)],[F4,= Monthly_Payment],[G4,=12** Monthly_Payment*Years+Down_Payment],[H4,= G4-Price]]
Use the Data Table button in the What-If Analysis gallery (Data tab I Forecast group) to define the range E4:H19 as a one-input data table. Use the Interest Rate in the Loan Payment Calculator as the column input cell.
Use the Page Setup dialog box to select the Fit to and 'Black and white' options. Select the range B2:C9 and then use the 'Set Print Area' command to set a print area. Use the Print button on the Print screen in Backstage view to print the worksheet. Use the 'Clear Print Area command to clear the print area.

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