PROJECT STEPS

Nadia Khalif is the office manager for the Conyers Law Offices in Dallas, Texas. The firn is planning to move its computer network into the cloud so that everyone working on a case can access information at any time and from anywhere. Nadia is in charge of securing a loan to pay for the network transition and asks for your help in creating a loan analysis.

Go to the Loan Payment Calculator worksheet. Resize row $1$ to a height of $8\mathrm{.}25$ to reduce the blank space at the top of the worksheet.

Cell D$4$ has a defined name, which is unnecessary for a cell that will not be used in a formula. Delete the name for cell D$4$ from the worksheet.

Nadia wants to assign names to other cells to help her interpret the loan calculations. the range $D5$:$D7,$ define names based on the values in the range $C5$:$C7.$ Define names for the range F$5$:F$7$ based on the values in the range E$5$:E$7.$

Nadia needs to calculate the monthly payment for the loan to fund the law firm's transition to the cloud. In cell F$5,$ enter a formula using the PMT function. Insert a negative sign $(-)$ before the function in the formula to display the result as a positive amount. Use defined names for the rate, nper, and pv arguments as follows:

rate argument: Divide the Rate by $12$ to use the monthly interest rate.

nper argument: Multiply the Term by $12$ to specify the number of months as the periods.

pv argument: Use the Loan$\_$Amount as the present value of the loan.

Nadia wants to calculate the total interest, which is the total amount of the payments minus the loan amount. In cell F$6,$ enter a formula without using a function that multiplies $12$ by the Term and the Monthly$\_$Payment, and then subtracts the Loan$\_$Amount to determine the total interest.

In cell F$7,$ enter a formula without using a function that adds the Loan$\_$Amount to the Total Tntaract to Hatarming tha tntal coft nf tha lazn