Microsoft Office Tutorials and References
In Depth Information
Building a Version of the Loan Calculation
The Calculate_Table macro relies upon several features in Excel to work, such as named
ranges (discussed later in this chapter), form controls, and command buttons. To build the
workbook yourself, follow these steps.
1 Open a blank workbook by clicking the New button on the Standard toolbar or select­
ing Blank workbook from the New Workbook Task Pane.
2 In column A, type the following descriptions, one per line. You can use Figure 8-2 as
a guide:
Bank Name
Future Value
Annual Interest Rate
Years of Loan
Amount of Payment
Effective Rate
Number of Payments
Figure 8-2. The Loan Calculator requires a number of specific inputs—here are
those descriptions.
3 In column B, assign names to the cells alongside the description. Match the cell name
in column B to the description in column A: Name, Principal, Future_Value, APR,
Years, Payment. Skip the cell for Effective Rate, and name the last cell Payments.
4 Select the field cell for Amount of Payment, and type the following formula:
=PMT(APR/12,Payments,Principal, Future_Value)
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