EX2016-ChallengeYourself-6-4-instructions.pdf

# EX2016-ChallengeYourself-6-4-instructions.pdf - A Skills...

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A Skills Approach: Excel 2016 Chapter 6: Exploring Advanced Functions Step 1 Download start file Challenge Yourself 6.4 In this project, you will complete a series of budget worksheets, including a home loan analysis, rental comparison, and savings and retirement planning. The fair market rent information in the Final FY2017 Virginia FMR worksheet was copied from the U.S. Department of Housing and Urban Development Web site at . Skills needed to complete this project: Calculating the Number of Payments with NPER Rounding with Functions Finding Data with MATCH and INDEX Calculating Future Value with the FV Function Using PV to Calculate Present Value when Payments Are Constant Using NPV to Calculate Present Value when Payments Are Variable 1. Open the start file EX2016-ChallengeYourself-6-4 . The file will be renamed automatically to include your name. Change the project file name if directed to do so by your instructor, and save it. 2. If the workbook opens in Protected View , enable editing so you can make changes to the workbook. 3. On the Loan Terms worksheet, calculate how quickly you could pay off the loan if you increased the monthly payment. a. In cell D11 , use NPER to calculate the number of months to pay off the loan using the new monthly loan payment amount in cell D10 . Remember to use a negative value for the Pmt

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• Summer '17
• Negative and non-negative numbers, Mortgage loan, Nper, Virginia FMR worksheet

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