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i need help fixing these two problems Create defined names for a cell. 4. Liam needs to calculate the monthly payment for a loan to
i need help fixing these two problems
Create defined names for a cell. 4. Liam needs to calculate the monthly payment for a loan to purchase the Charles Street property. Calculate the payment as follows: a. In cel D6, start to enter a formula using the PMT function. b. For the rate argument, divide the Rate (cell D4) by 12 to use the monthly interest rate. c. For the nper argument, use the Term_In_Months (cell D5) to specify the number of periods. d. For the pv argument, use the loan_Amount (cell B8) 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. X Create a formula using a function. in the Loan Calculator worksheet, the formula in cell Do should contain the PMT function. 5. In cell D7. enter a formula without using a function that multiples the Monthly_Payment (cell D6) by the Term_in_Months (cell D5) and then subtracts the Loan_Amount (cell B8) from the result to determine the total interest. X Create a formula. In the Loan Calculator worksheet, the formula in cell D7 should calculate the total interest of the loan. E G H Scenarios Renovation 20 Years 8 Years Loan Amount $ 1,020,000 $ 968,938 5 920,000 Grading Error: Step 4: in the con Castor worksheet, the formula in cel 6 should contain the PMT function "LUOTTE MET Start Date Monthly Payment Future Value $ TO 1/3/22 (7.777) n/a 1/3/22 1/3/22 (6,000) S (8,000) n/a (5.392,082.42) Monthly... fx --PMT(D4/12,05, B8) B D 2 Loan Calculator 3 Loan Payment Calculator 4 Date 9/15/21 Rate 4.45% 5 Property Charles Street Term in Months 180 6 Price $ 1,150,000 Monthly Payment Ca$7.014.45 7 Down Payment $ 230,000 Total Interest $ 342,601.29 & Loan Amount $ 920,000 Total Cost $ 1,492,601.29 9 10 Varying Interest Rates and Terms 11 Rate Number of Months 12 $ 7,014 120 180 240 13 3.95% S 9,292.715 6,782.105 5,550.81 14 4.05 5 9,336.4 5 6,828.20 $ 5,599.29 15 4,15% 5 9,380.28 $ 6,874.49 $ 5,648.00 16 4.25% $ 9,424.255 6,920.965 5,696.96 17 4 35% $ 9,468.35 6,967.62 5,746.15 18 4.45% $ 9,512.585 7,014.45 5,795.57 19 4.55% $ 9,556.925 7,061.47 $ 5,845.23 20 4.65% $ 9,601.405 7,108.67$ 5,895.13 21 4,75L $ 9,645.99 $ 7.156.055 5,945.26 22 4.85% $ 9,690.71 7,203,625 5,995.62 23 4.95% 5 9,735.56 $ 7,251.365 6,046.21 24 5.05 $ 9,780.535 7,299.295 25 5.15% S 9,825.625 7,347.39 $ 6,148.09 26 27 28 6,097,03 30 31 Step by Step Solution
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