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please help through 18-23 18 You are ready to start completing the loan amortization table. In cell C8, type a reference formula to cell B1.
please help through 18-23
18 You are ready to start completing the loan amortization table. In cell C8, type a reference formula to cell B1. The balance before the first payment is identical to the loan amount. Do not type the value; use the cell reference instead. In cell c9, subtract the principal from the beginning balance on the previous row. Copy the formula to the range C10:C19. 19 Now, you will calculate the interest for the first payment. In cell D8, calculate the interest for the first payment using the IPMT function. Copy the function to the range D9:D19. 20 Next, you will calculate the principal paid. In cell E8, calculate the principal paid for the first payment using the PPMT function. Copy the function to the range E9:E19. 21 The range D2:E3 contain a summary section for cumulative totals after the first year. 21 The range D2:E3 contain a summary section for cumulative totals after the first year. In cell E2, insert the CUMIPMT function that calculates the cumulative interest after the first year. Use references to cells B8 and B19 for the period arguments. 22 The next summary statistic will calculate the principal paid after the first year. In cell E3, insert the CUMPRINC function that calculates the cumulative principal paid after the first year. Use references to cells B8 and B19 for the period arguments. 23 Rows 22-24 contain a section for what-if analysis. In cell B23, use the RATE financial function to calculate the periodic rate using $1,400 as the monthly payment (cell B22), the NPER, and loan amount in the original input
please help through 18-23
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