Homework 2

# Homework 2 - Homework 2 Excel Functions Objective Use IF...

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Homework 2: Excel Functions Objective: Use IF, VLOOKUP, and financial functions to build a loan Calculator and amortization table. 1. Download and open the Excel file, LoanCalculator_HW2.xlsx that is posted on Blackboard along with this assignment. 2. Enter your name as the customer name in merged cells B2:C2. 3. Save the file with a new name in the default Excel format. 4. Select the LoanData worksheet. Sample data is already provided in cells in range B3:B6. You may change this data as you wish. 5. Apply data validation to cell B6. Use a drop-down menu to limit the user choice to the years listed in column H. 6. Use the range names in bold below to name ranges (individual cells) in the model that represent the specific items of data: a. Loan Amount: loanAmt (B13) b. Loan Term: term (B6) c. Interest Rate: iRate (B11) 7. *Enter a formula into cell B12 that simply references the loan term in cell B6 (use the range name term ). =term 8. Use the VLOOKUP function to return the customer's interest rate based on his credit score.

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