1. Switch to the Amortization worksheet. Calculate the cumulative interest for a loan for one new clinic location as follows:
   1. In cell C16, enter a formula using the CUMIPMT function to calculate the cumulative interest paid on the loan after the first year (payment 1 in cell C14 through payment 12 in cell C15) when the payments are made at the end of the period. Use 0 as the type argument in your formula.
   2. Use absolute references for the rate, nper, and pv arguments.
   3. Use relative references for the start and end arguments.
   4. Copy the formula from cell C16 to the range D16:G16 to calculate the interest paid in Years 25.
2. Calculate the cumulative principal for a loan for one new clinic location as follows:
   1. In cell C17, enter a formula using the CUMPRINC function to calculate the cumulative principal paid in the first year (payment 1 in cell C14 through payment 12 in cell C15) when the payments are made at the end of the period. Use 0 as the type argument in your formula.
   2. Use absolute references for the rate, nper, and pv arguments.
   3. Use relative references for the start and end arguments.
   4. Copy the formula from cell C17 to the range D17:G17 to calculate the principal paid in Years 25.
3. In cell H17, use the Error Checking command to identify the error in the cell, and then correct the error. (Hint: The formula in the cell should calculate the total values in C17:G17 using the SUM function.)
4. Calculate the principal amounts in the loan amortization schedule as follows:
   1. In cell E22, enter a formula using the PPMT function to determine the amount of the first loan payment devoted to principal.
   2. Use absolute references only for the rate, nper, and pv arguments.
   3. Use cell A22 as the current period. (Hint: The period is based on a monthly payment schedule.)
   4. Copy the formula from cell E22 to the range E23:E81 to calculate the principal paid in Periods 260.

Format Painter BI U Formatting Table Styles Clipboard Alignment Number Danbury Drop-In Clinics Amortization Schedule Conditions Add 1 Location 103,000 5.00% 0.48% amount (pv) ual interest rate Monthly interest rate (rate) n period in years n period in months (np 50 Monthly Payment Due $1,980 1/2/2019 10 Start date of loan Curnulative Interest and Principal Payments per Year Year 1 Year 3 25 36 Year 4 37 48 13 Year 2 13 24 Year 5 49 60 Total 15 16 17 18 Interest Principa #NAME? Principal Re 103,000 103,000 103,000 103,000 103,000 Documentation Loan Scenas Amortization DepreciationIncome Statement Investment + 100% 5:50 PM Type here to search Ending Balance $ 103,000.00 $ 103,000.00 $ 103,000.00 103,000.00 $ 103,000.00 $ 103,000.00 Cumulative Beginning Balance Payment Principal 21 Interest 23 24 25 26 27 1/2/2019 $ 103,000.00 $ 2/1/2019 $ 103,000.00 $ 3/1/2019 $ 103,000.00 $ 4/1/2019 $ 103,000.00 $ 5/1/2019 $103,000.00 $ 6/1/2019 $103,000.00 $ 7/1/2019 1.979.80) 1,979.80) 1,979.80) (1,979.80) (1,979.80) (1,979.80) (1,979.80) 103,000.00 103,000.00 Documentation Loan Scenarios Amortization Depreciation Income Statement Investment period in months (nper) Monthly Payment Due Start date of loan 60 ($1,980 1/2/2019 30 31 32 9/1/2019 103,000.00 1,979.80) 10/1/2019 $ 103,000.001,979.80) 11/1/2019 $ 103,000.001,979.80) 12/1/2019 103,000.001,979.80) 1/1/2020103,000.00 $(1,979.80) 2/1/2020 103,000.00 1,979.80) 3/1/2020 103,000.00 (1,979.80) 4/1/2020 103,000.00 (1,979.80) 1979.801 s 103,000.00 103,000.00 $ 103,000.00 103,000.00 $ 10 34 35 36 37 38 12 13 14 15 16 5 103,000.00 s 103,000.00 103,000.00 $ 103,000.00 Documentation Loan Scenarios Amortization Depreciation Income Statement Investment Type here to search