Would someone be able to go through step by step how to do the excel document thanks! The photos include the 11 step instructions and the excel file information.
Step Instructions Points Possible 1 0 Start Excel. Download and open the file named Exp19_Excel_Ch07_CapAssessment_Shipping.xlsx. Grader has automatically added your last name to the beginning of the filename. 2 Use the Loan worksheet to complete the loan amortization table. 2 In cell B4, enter a formula that calculates the monthly interest rate, based on the APR provided (B3) 3 2 In cell B6, enter a formula that calculates the total number of months for the loan, based on the Years for Loan provided (B5). 4 4 In cell B7, insert a Function to calculate the Monthly Payment based on the Monthly Rate (B4), NPER (B6), and Loan PV (B2). 5 5 In cell F2, insert the IMPT function to calculate the interest for the first payment. Copy the function to the range F3:F25. (The results will update after you complete the other functions and formulas.) 6 5 In cell G2, insert the PPMT function to calculate the principal paid for the first payment. Copy the function to the range G3:G25. 7 5 In cell H2, insert a formula to calculate the ending principal balance. Copy the formula to the range H3:H25. 8 Now you want to determine how much interest was paid during the first two years. 5 In cell B10, insert the CUMIPMT function to calculate the cumulative interest after the first two years. Make sure the result is positive. 9 5 In cell B11, insert the CUMPRINC function to calculate the cumulative principal paid at the end of the first two years. Make sure the result is positive. 10 2 Insert a custom footer on all sheets with the sheet name code in the center, and the file name code on the right side. 11 Save and close Exp19_Excel_Cho7_CapAssessment_Shipping.xlsx. Exit Excel. Submit the file as directed. 0 A B D E F G H Interest Principal End Balance Beg Balance $ 75,000.00 Payment # 1 2 3 4 01 6 7 8 1 Loan Information 2 Loan (PV) $ 75,000.00 3 APR 5.00% 4 Monthly Rate 5 Years for Loan 6 6 NPER 7 Monthly Payment 3 9 Cumulative Totals after Year 2 0 Interest -1 Principal Paid 2 3 4 5 6 7 8 9 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 EA EA EA EA EA EA EA EA EA EA EA EA EA EA EA EA EA EA EA EA EA EA EA EA LOON OOO ON 4 24 5 -6 N 00 8 -9 0 1
