Step by step

year. Use A9 for the Start_period argument and B6 for the End period argument, Use 0 as the Type argument. Make sure the result is a positive value. 10 Now you want to calculate the total interest paid for the entire loan In cell F3, insert the CUMIPMT function to calculate the total cumulative interest paid for the entire loan. Use A9 for the Start_period and D6 for the End period arguments. Make sure the result is a positive value. 11 You want to calculate the cumulative principal paid for the first year, 7 In cell F4, insert the CUMPRINC function to calculate the cumulative principal paid for the first year. Use A9 for the Start_period and B6 for the End period arguments. Make sure the result is a positive value. 12 In cell F5, insert the COUNTIF function to count the number of payment periods in which the interest in the loan amortization table is higher than one-half of the monthly payment (cell D4) 13 Apply General number format to cell F5. 14 You want to extract the year and use it to determine the payoff year Display the Investment sheet. In cell D4, insert the YEAR function to extract the year from cell D3 and add the number of years (cell B3). You will change the format of the result in the next step. 15 You need to format the result in cell D4 as a number Ensure that General number format is applied to cell D4. 1t At the end of each period, you will add $125 to the investment In cell D7, enter a formula that references cell D2. Use a mixed reference to e number does not change. Copy the formula to the range D8:D54. nsure the row 17 You want to calculate the interest earned per period. In cell C7, multiply the beginning balance in cell Br to the result of dividing the APR by the No of Pmts per Year. Use mixed and relative cell references, Copy the formula to the range C8:C54. 18 You are ready to calculate the ending balance for each payment period In cell E7, add the Beginning Balance, Interest Earned, and End-of-Period Investment for row 7. Copy the formula to the range E8: E54. 19 You will use a nested function to calculate the dates in column Al In cell Ao, create a DATE function with a nested YEAR function, a nested MONTH function and then add 1 to increment the month, and a nested DAY function. The function arguments should reference the date on the previous row. 20 Copy the function from cell A8 to the range A9:A54 but preserve the fill formatting Created On: 09/24/2019 Exp19_ Excel_ Ch07_ML2 - Finances 1.0 e W