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shelly Cashman Excel 2UIY I Moavie 4: SAM rroject la
4. Liam needs to calculate the monthly payment for a loan to purchase the Charles Street property. Calculate the payment as follows:
a. In cell D6, start to enter a formula using the PMT function.
b. For the rate argument, divide the Rate by 12 to use the monthly interest rate.
c. For the nper argument, use the Term_in_Months to specify the number of periods.
d. For the pv argument, use the Loan_Amount 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.
5. In cell D7, enter a formula without using a function that multiples the Monthly_Payment by the Term_in_Months and then subtracts the Loan_Amount from the result to determine the total interest.
6. In cell D8, enter a formula without using a function that adds the Price to the Total_Interest to determine the total cost.
7. Liam wants to compare monthly payments for interest rates that vary from 3.95% to 5.15% and for terms of 120,180, and 240 months. He has already set up the structure for a data table in the range A12:D25.
Create a two-variable data table as follows to provide the comparison that Liam requests:
a. In cell A12, enter a formula without using a function that references the Monthly_Payment amount because Liam wants to compare the monthly payments.
b. Based on the range A12:D25, create a two-variable data table that uses the term in months (cell D5) as the row invut cell and the rate (cell D4) as the column inout
?2, Focus
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