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In the Personal Loan worksheet use the fill handle to make the first day of each month appear in cels B13 to B70. Hint You

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In the Personal Loan worksheet use the fill handle to make the first day of each month appear in cels B13 to B70. Hint You should be able to do this with one double-click In the Personal Loan worksheet, insert a formula in cell G4 to calculate the total number of payments for the loan using relative cell references. Hint: The number of payments per year can be found in C8 and the number of years is in C7. In the Personal Loan worksheet in cell G5, use the PMT function to calculate the monthly payment for the loan. Be sure to use relative cell references. Hint: Remember that the posted interest rate is ANNUAL and Excel is looking for a MONTHLY interest rate. Show the payment as a positive value by changing the Present Value from positive to negative. In the Personal Loan worksheet, In C11 enter a reference to the Principle in C4. Then in D11 enter a reference to the monthly payment you calculated in G4 and make sure that it won't change later when you fill down in the D column. In G11 enter a formula that calculates the ending balance after the payment of the principle (i.e. Balance at the Beginning minus the Principle Portion). Hint: The Interest Portion and the Principle Portion have been entered for you in the interest of time. Do not change them. You will not be filling down the reference you put in C11 because a different formula is going to be put in C12. You need relative references in G11 so that you can fill down and they will automatically adjust. I Wanna Cool Boat! 3 4 Loan Summary Information Term of loan Payment 5 Enter Loan Parameters as Indicated Principal $65,000 Annual Interest 8.50% Date of First Payment 9/1/2017 Number of years . 5 Payments per year 12 6 7 8 9 Payment Number Payment Amount Interest Portion Principal Portion Balance At End of Period 10 Balance at Date Beginning of Period 1.Sep-19 1-Oct-19 11 #NUM! #NUM! 1 2 12 13 3 4 14 15 5 16 6 7 8 17 18 19 20 9 10

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