Please see excel questions below, I’m looking for help with formulas. Thank you.
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Answered! Hello, Please see excel questions below, I'm looking for help with formulas. Thank you….
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1) Loan Amount
2) Number of Periods
3) Monthly Rate
4) Monthly Payment, In cell E5, use the PMT function to calculate the monthly payment. Make sure the result displays as a positive number.
5) Total Interest Paid, In cell E6, use the CUMIPMT function to calculate the cumulative total interest paid throughout the loan. Make sure the result displays as a positive number. Assume the payment is made at the end of the month.
6) In cell C11, enter a formula to reference the date stored in cell B7