Question
Hello, Please see excel questions below, I'm looking for help with formulas. Thank you. 1) Loan Amount 2) Number of Periods 3) Monthly Rate 4)
Hello,
Please see excel questions below, I'm looking for help with formulas. Thank you.
1) Loan Amount
2) Number of Periods
3) Monthly Rate
4) Monthly Payment, In cell E5, use the PMT function to calculate the monthly payment. Make sure the result displays as a positive number.
5) Total Interest Paid, In cell E6, use the CUMIPMT function to calculate the cumulative total interest paid throughout the loan. Make sure the result displays as a positive number. Assume the payment is made at the end of the month.
6) In cell C11, enter a formula to reference the date stored in cell B7
A B C 1 Input Area Summary Calculations What If 2 Complex Cost 1,850,000.00 Collect Monthly Rent Loan Amount 3 Down Payment is 750,000.00 No. Periods #of Units in Complex 4 of Pmts per Year PV of Future Rent Monthly Rate 5 Years Monthly Payment 4.75% 6 APR Total Interest Paid 7 1st Payment Date 2018-03-01 Principal 10 Payment Payment Date Beginning Balance Interest Paid Payment Ending Balance 23 26 16 18 20 35 $2,000Step by Step Solution
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