DVP3 Loan Payment-1.docx - DVP3 LOAN PAYMENT CALCULATOR USING NAMED CELLS This assignment requires the use of a financial function(PMT which is used to

DVP3 Loan Payment-1.docx - DVP3 LOAN PAYMENT CALCULATOR...

This preview shows page 1 - 2 out of 3 pages.

DVP3 LOAN PAYMENT CALCULATOR USING NAMED CELLS This assignment requires the use of a financial function (PMT) which is used to calculate the payment on a loan. We will also calculate the total interest paid on a loan. In order to successfully complete this assignment, in addition to the concepts in previous assignments, you also need to know how to complete the following tasks in a spreadsheet software: PMT function Define names for cells IF you completed the previous assignment using Excel, switch to a Google spreadsheet. IF you used Google previously, switch to a Microsoft product. CREATE NEW WORKBOOK. RECREATE THE LABELS AS SHOWN IN THE EXAMPLE This is what the worksheet looks like to begin with. In this example, I’m buying a car that cost $15,000 and am putting $5,000 down. To figure out how much the loan amount is (how much money you are borrowing), we know to use a formula =B4-B5 – right? BUT if the cells have names, the formula will be =Price- Down Payment, which is easier to read and remember. There are 9 cells that will have values in them (B3, B4, B5, B6, D3, D4, D5, D7, and D9). The labels that identify these values are just to the left of these cells (A3, A4, A5, A6, C3, C4, C5, C7, and C9).
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Fall '17

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes