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shelly Cashman Excel UIY I Moavie : SAM rroject la
Liam needs to calculate the monthly payment for a loan to purchase the Charles Street property. Calculate the payment as follows:
a In cell D start to enter a formula using the PMT function.
b For the rate argument, divide the Rate by to use the monthly interest rate.
c For the nper argument, use the TerminMonths to specify the number of periods.
d For the pv argument, use the LoanAmount to include the present value.
e Insert a negative sign after the equal sign in the formula to display the result as a positive amount.
In cell D enter a formula without using a function that multiples the MonthlyPayment by the TerminMonths and then subtracts the LoanAmount from the result to determine the total interest.
In cell D enter a formula without using a function that adds the Price to the TotalInterest to determine the total cost.
Liam wants to compare monthly payments for interest rates that vary from to and for terms of and months. He has already set up the structure for a data table in the range A:D
Create a twovariable data table as follows to provide the comparison that Liam requests:
a In cell A enter a formula without using a function that references the MonthlyPayment amount because Liam wants to compare the monthly payments.
b Based on the range A:D create a twovariable data table that uses the term in months cell D as the row invut cell and the rate cell D as the column inout
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