The first step is to enter a formula to reference the loan amount for the beginning balance for the first payment. In cell B9, enter formula that references cell D2. in cell c9, enter a formula to reference the monthly payment in cell D3. use a mixed reference and copy the formula to the range c10-c68. in cell D9, enter the ipmt function to calculate the interest paid for the first month, using mixed cell references to the input area for the rate, nper, and pv arguments, and using sell A9 for the per argument. make sure the result is a positive value and copy the function to the range d10:d68.

Instructions: 14 Start Excel. Download and open the flle named Exp19_Excel_Cho7_ML2_Finances, xlsx: Grader has automatically added your last name to the beginning of the filename.z 24 The first step is to enter a formula to reference the loan amount for the beginning balance for the first payment. In cell B9, enter a formula that roferences cell D2.n 3ix A toan amortization table usually contains a column that displays the monthly payment for Bach row. In cell C9, enter a formula to relerence the monthly payment in cell D3. Use a mixed reference: and copv the formula to the ranpe C10:C68,n The monthly payment indicales the total amount of the payment, which includes principal and. interest. Interest is calculated based on the loan amount, the rate, the payment number, and the number of payments. In cell D9, enter the IPMT function to calculate the interest paid for the first month using mixed: cell references to the input area for the Rate, Nosc, and PVarguments and using cell A9 for the Per argument. Make sure the result is a postive value and copy the function to the range D10:D68.a After calculating the interest paid, the rest of the monthly payment repays the principal. In cell E9, enter the PPMT function to calculate the principal paid for the first month using mbixed cell references to the Calculations area for the Rato. Nper, and PV argument and using: cell A9 for the Per argument. Make sure the result is a positive value and copy the function to the range E10:E68.r 6u The last column of the loan amortization table calculates the ending balance. In cell F9, calculate the ending balance by subtrating the Principal Repayment from the: Beginning Balance in row 9. Copy the formula to the range F10:F68,; 7a The beginning balance for each payment is calculated and entered in column B. In coll B10, enter a formula that references the first month's onding balance in cell F9. Copy the formula to the range B11:B68.. 8. Ensure that Accounting Number Format is appliad to the range B9:F68.4