find the additional loan/ loan repayment using cells formula example B3+C2

MARCH beginning cash balance using cells formula

March additional loan loan repayment

2 Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest 3 payments) for the first three months of next year. Kayak requires a minimum cash balance of $34,000 at each month-end. Loans taken to meet this requirement charge 1% interest per month, paid at each month-end. The 10 interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $34,000 is used to repay loans at month-end. The company has a cash balance of $34,000 and a loan balance of $68,000 at January 1