I'm having trouble figuring out how to construct the functions in excel on my Mac for the interest and balance reduction of this problem How do I determine what the formulas are if the directions are telling me to reuse the formulas in cells in C16 and D16 how is this this is the formula for cell C16 this is the formula for D16 and I don't know how to create a function to find the values for the interest column AutoSave ON 2 9 Saving Su Page Layout Formulas Insert Draw Data Review Home View Tell me Calibri (Bodyl 12 A A E aby Currency LD Paste BIU A v $ ) E15 A B D G H 1 2 Financial Stress and Forbearance 2 Years into loan Nt 6 month pause button Interest accrues no payment made 5 6 7 8 9 10 11 12 13 Amount Needed Fee Percent Fee Loan Amount Annual Interest Rate Term Years w of monthly Payments Payment Basic Lean $35,000 00 1 06 $371 00 $35,371 00 6 20 10 120 $396 25 Balance at 2 years 6 months interest New Balance 96 Months remaining New Payment Total Cost of the loan $47,550 30 Periode Interest Balance Reduction Loan Balance Paid before pause Paid after Pause New Cost of the loan 0 Added Cost 15 16 17 18 19 20 21 22 23 24 25 26 27 2 3 4 5 6 7 8 9 10 524568 $244 19 $242 20 $241 20 $239 70 $238 18 $236 66 $235 13 $233 60 $232 05 $230 50 $228 94 $22737 $225 79 14 20 $222 61 $221 01 $219 40 $217 78 $216 15 $21452 29 30 31 32 12 13 14 15 16 17 18 19 20 21 Student Loans Formulas Statistical Functions Ready esc BO CG DO Home Insert Calibri (Body) 12 Lo ' v Paste BIU A E15 E F G D B 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 $216 15 $214 52 $212 87 $211 22 $209 56) $207 89 $206 21 $204 52 $202 83 $201 12 $199 41 $197 69 $195 96 $194 22 $192 47 $190 71 $188 95 $187 17 $185 38 $183 59 $181 79 $179 97 $178 15 $176 32 $174 48 $172 63 $170 77 $168 90 $167 02 $165 13 $163 23 $161 32 $159 40 $157 47 $155 53 $153 58 61 62 63 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 64 65 66 67 68 69 70 Student Loans Formulas Statistical Functions Ready 21 D Share Comments Insert v WE 280 0 4 me BV Cell Styles 5 Delete Format v Sort Filter Find Select Ideas v Sensitivity Atlas 3 0 M N Atlas 3 0 3 4 Calculate the beginning balance as well as the interest and balance reduction elements of each payment a The beginning balance of the loan is in cell C6 b The beginning balance in the amortization table will be in cell E15 C Set cell E15 equal to C6 d In cell C16 use the IPMT function to calculate the amount of interest paid in each period e In cell 016) use the PPMT function to calculate the amount of loan balance reduced during each period f Place a minus sign in front of these calculations to make the results positive numbers g Use relative and absolute references correctly so these calculations will autofill down for all 120 months h Reuse the formulas in cell cells C16 and D16 to complete the interest and balance reduction calculations for each period 100 ( tv TA A Excel File Edt View Insert Format Tools Data Window Help Mon 10 44 AM 6 29flawing Home Insert Draw Page Layout Formulas Data Review View Tell me Comments Calibrady 12 A A Currency een Delete For DMG 6 27 0 3 Dansitional Format Call Formatting u Table Styles Sari Find Set Senty Aias 20 M N Anded $15 00 Financial and The 2 Yan intermarthe butter Interest me part made Balance at 2 years SS $35 JURARE rewart of more Tolstof the Infore werest Rolane keton tor Balance 59537108 Atlas 3 0 32 Calculate the beginning balance as well as the interest and balance reduction elements of each payment a The beginning balance of the loan is in b The beginning balance in the amortization table will be in cell E15 c Set cell E15) equal to C6) d In cell C16 use the IPMT function to calculate the amount of interest paid in each period e In cell D16) use the PPMT function to calculate the amount of loan balance reduced during each period Place a minus sign in front of these calculations to make the results positive numbers Use relative and absolute references correctly so these calculations will autofill down for all 120 months Reuse the formulas in cell cells C16 and D16) to complete the interest and balance reduction calculations for each period T 10 11 14 15 IT 19 100 21 Excel Tools Data File Edit View insert Format AutoSave On 5 Window Help 2 Mon 11 05 AM Q 29 Saved Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments 12 A A Insert Currency Calibri (Bodyl BI 2 28 0 4 me Paste CA $ Conditional Format Formatting as Table Styles Format Sort F Find Select Sensitivity Alles 30 016 A N Baskets $35 000 00 1 OEN $371 00 $35 371 00 Amount Needed fee Fee Loan amount Annual interest Rate Term Year of mothy Pets Payment Financial Stress and bene 2 Years Indolan month pause button Interest and made 10 1 20 6 month interest New Balance Total cost of the loan 547,5500 Mremaining New Payment Paid before pause Paldar Pause New Cost of the loan Interest Added Cont Atlas 3 0 3 4 Calculate the beginning balance as well as the interest and balance reduction elements of each payment a The beginning balance of the loan is in cell C6 b The beginning balance in the amortization table will be in cell E15 C Set cell E15) equal to C6 d In cell C16) use the IPMT function to calculate the amount of interest paid in each period e In cell D16) use the PPMT function to calculate the amount of loan balance reduced during each period f Place a minus sign in front of these calculations to make the results positive numbers 8 Use relative and absolute references correctly so these calculations will autofill down for all 120 months h Reuse the formulas in cell cells C16) and D16) to complete the interest and balance reduction calculations for each period Balance Reduction Loan Bale 55371 DO $287 00 $26 $299 99 5420 $2410 $239 10 $24 51 $9 00 $26 5297 56 $199 10 S10064 22 05 SI 20 22 30 50 510 $22854 530533 $227 37 $3060 $22420 $310 00 $22261 S $221 01 $313 10 53194 $31492 5217 20 $116 54 $216 15 $3181 $25452 19 12 13 14 15 16 17 18 19 30 21 Student Loans Formulas Stanical Function 100 tv 21 Excel File Edit View Insert Format Tools Data AutoSave ON Home Insert Draw Page Layout Formulas Data Re Calibri (Body) 12 v ' ' av Av Paste V E16 X Vfx IPMT(C7 12,B16 B135,08 12,012) A B C D E F 1 4 00 ou WN Amount Needed Fee Percent Fee Loan Amount Annual Interest Rate Term Years of monthly Payments Payment Basic Loan $35,000 00 1 06 $371 00 $35,371 00 6 20 10 120 $396 25 Total Cost of the Loan $47,550 30 9 10 11 12 13 14 15 16 17 18 19 20 Period Interest Balance Reduction 0 Loan Balance $35,371 00 1 $195 68 2 3 3 $287 02 $288 50 $289 99 $291 49 $293 00 $244 19 $242 70 $241 20 $239 70 4 5 21 Excel File Edit View Insert Format Tools Data AutoSave ON Home Insert Draw Page Layout Formulas Data RE X Calibri (Body) 12 v Paste BI V V Av D16 XV fx PPMT(C7 12,816 B135,10 12,C12) A B D E F 1 2 3 4 5 6 Amount Needed Fee Percent Fee Loan Amount Annual Interest Rate Term Years of monthly Payments Payment Basic Loan $35,000 00 1 06 $371 00 $35,371 00 6 20 10 120 $396 25 7 Total Cost of the Loan $47,550 30 8 9 10 11 12 13 14 15 16 17 18 Period Interest W NO Balance Reduction Loan Balance $35,371 00 $287 02 $245 68 $288 50 $244 19) $289 99 $242 70 $291 49 $241 20 19 3 4

Question

I'm having trouble figuring out how to construct the functions in excel on my Mac for the interest and balance reduction of this problem  How do I determine what the formulas are if the directions are telling me to reuse the formulas in cells in C16 and D16  how is this  this is the formula for cell C16 this is the formula for D16 and I don't know how to create a function to find the values for the interest column  AutoSave ON 2 9 Saving Su  Page Layout Formulas Insert Draw Data Review Home View Tell me Calibri (Bodyl 12   A A E aby Currency LD Paste BIU A v $   ) E15 A B D G H 1 2 Financial Stress and Forbearance 2 Years into loan Nt 6 month pause button Interest accrues no payment made 5 6 7 8 9 10 11 12 13 Amount Needed Fee Percent Fee Loan Amount Annual Interest Rate Term Years w of monthly Payments Payment Basic Lean $35,000 00 1 06  $371 00 $35,371 00 6 20  10 120 $396 25 Balance at 2 years 6 months interest New Balance 96 Months remaining New Payment Total Cost of the loan $47,550 30 Periode Interest Balance Reduction Loan Balance Paid before pause Paid after Pause New Cost of the loan 0 Added Cost 15 16 17 18 19 20 21 22 23 24 25 26 27 2 3 4 5 6 7 8 9 10 524568 $244 19 $242 20 $241 20 $239 70 $238 18 $236 66 $235 13 $233 60 $232 05 $230 50 $228 94 $22737 $225 79 14 20 $222 61 $221 01 $219 40 $217 78 $216 15 $21452 29 30 31 32 12 13 14 15 16 17 18 19 20 21 Student Loans Formulas Statistical Functions Ready esc BO CG DO   Home Insert Calibri (Body) 12 Lo ' v Paste BIU A E15 E F G D B 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 $216 15 $214 52 $212 87 $211 22 $209 56) $207 89 $206 21 $204 52 $202 83 $201 12 $199 41 $197 69 $195 96 $194 22 $192 47 $190 71 $188 95 $187 17 $185 38 $183 59 $181 79 $179 97 $178 15 $176 32 $174 48 $172 63 $170 77 $168 90 $167 02 $165 13 $163 23 $161 32 $159 40 $157 47 $155 53 $153 58 61 62 63 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 64 65 66 67 68 69 70 Student Loans Formulas Statistical Functions   Ready 21 D Share Comments Insert v WE 280 0 4 me BV Cell Styles 5 Delete Format v Sort   Filter Find   Select Ideas v Sensitivity Atlas 3 0 M N Atlas 3 0 3 4 Calculate the beginning balance as well as the interest and balance reduction elements of each payment  a  The beginning balance of the loan is in cell C6 b  The beginning balance in the amortization table will be in cell E15  C  Set cell E15 equal to C6  d  In cell C16 use the IPMT function to calculate the amount of interest paid in each period  e  In cell 016) use the PPMT function to calculate the amount of loan balance reduced during each period  f  Place a minus sign in front of these calculations to make the results positive numbers  g  Use relative and absolute references correctly so these calculations will autofill down for all 120 months  h  Reuse the formulas in cell cells C16 and D16 to complete the interest and balance reduction calculations for each period    100  ( tv TA A Excel File Edt View Insert Format Tools Data Window Help Mon 10 44 AM 6 29flawing Home Insert Draw Page Layout Formulas Data Review View Tell me Comments Calibrady 12 A A Currency een Delete For DMG 6 27 0 3 Dansitional Format Call Formatting u Table Styles Sari Find   Set Senty Aias 20 M N Anded $15 00 Financial and The 2 Yan intermarthe butter Interest me part made Balance at 2 years SS $35  JURARE rewart of more Tolstof the Infore werest Rolane keton tor Balance 59537108 Atlas 3 0 32 Calculate the beginning balance as well as the interest and balance reduction elements of each payment a  The beginning balance of the loan is in b  The beginning balance in the amortization table will be in cell E15 c Set cell E15) equal to C6) d  In cell C16 use the IPMT function to calculate the amount of interest paid in each period e  In cell D16) use the PPMT function to calculate the amount of loan balance reduced during each period   Place a minus sign in front of these calculations to make the results positive numbers Use relative and absolute references correctly so these calculations will autofill down for all 120 months  Reuse the formulas in cell cells C16 and D16) to complete the interest and balance reduction calculations for each period T 10 11 14 15 IT 19 100  21 Excel Tools Data File Edit View insert Format AutoSave On 5 Window Help 2 Mon 11 05 AM Q 29 Saved Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments 12   A A Insert Currency   Calibri (Bodyl BI 2 28  0 4 me Paste CA $     Conditional Format Formatting as Table Styles Format Sort   F Find Select Sensitivity Alles 30 016 A N Baskets $35 000 00 1 OEN $371 00 $35 371 00 Amount Needed fee Fee Loan amount Annual interest Rate Term Year of mothy Pets Payment Financial Stress and bene 2 Years Indolan  month pause button Interest and made 10 1 20 6 month interest New Balance Total cost of the loan 547,5500 Mremaining New Payment Paid before pause Paldar Pause New Cost of the loan Interest Added Cont Atlas 3 0 3 4 Calculate the beginning balance as well as the interest and balance reduction elements of each payment  a  The beginning balance of the loan is in cell C6 b  The beginning balance in the amortization table will be in cell E15 C  Set cell E15) equal to C6 d  In cell C16) use the IPMT function to calculate the amount of interest paid in each period e  In cell D16) use the PPMT function to calculate the amount of loan balance reduced during each period  f  Place a minus sign in front of these calculations to make the results positive numbers  8  Use relative and absolute references correctly so these calculations will autofill down for all 120 months  h  Reuse the formulas in cell cells C16) and D16) to complete the interest and balance reduction calculations for each period  Balance Reduction Loan Bale 55371  DO $287 00 $26  $299 99 5420 $2410 $239 10 $24 51 $9 00 $26 5297 56 $199 10 S10064 22 05 SI 20 22 30 50 510 $22854 530533 $227 37 $3060 $22420 $310 00 $22261 S  $221 01 $313 10 53194 $31492 5217 20 $116 54 $216 15 $3181 $25452 19 12 13 14 15 16 17 18 19 30 21 Student Loans Formulas Stanical Function 100  tv 21 Excel File Edit View Insert Format Tools Data AutoSave ON Home Insert Draw Page Layout Formulas Data Re Calibri (Body) 12 v    ' ' av Av Paste V E16 X Vfx   IPMT(C7 12,B16 B135,08  12,012) A B C D E F 1 4 00 ou WN Amount Needed Fee Percent Fee Loan Amount Annual Interest Rate Term Years   of monthly Payments Payment Basic Loan $35,000 00 1 06  $371 00 $35,371 00 6 20  10 120 $396 25 Total Cost of the Loan $47,550 30 9 10 11 12 13 14 15 16 17 18 19 20 Period  Interest Balance Reduction 0 Loan Balance $35,371 00 1 $195 68 2 3 3 $287 02 $288 50 $289 99 $291 49 $293 00 $244 19 $242 70 $241 20 $239 70 4 5 21 Excel File Edit View Insert Format Tools Data AutoSave ON Home Insert Draw Page Layout Formulas Data RE X Calibri (Body) 12 v Paste BI V V   Av D16 XV fx   PPMT(C7 12,816 B135,10  12,C12) A B D E F 1 2 3 4 5 6 Amount Needed Fee Percent Fee Loan Amount Annual Interest Rate Term Years   of monthly Payments Payment Basic Loan $35,000 00 1 06  $371 00 $35,371 00 6 20  10 120 $396 25 7 Total Cost of the Loan $47,550 30 8 9 10 11 12 13 14 15 16 17 18 Period  Interest W NO Balance Reduction Loan Balance $35,371 00  $287 02 $245 68 $288 50 $244 19) $289 99 $242 70 $291 49 $241 20 19 3 4

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I'm having trouble figuring out how to construct the functions in excel on my Mac for the interest and balance reduction of this problem. How

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