Microsoft Office Tutorials and References
In Depth Information
l The result appears in
the worksheet.
Click OK to accept the
l Alternatively, you can
click Cancel to restore
the original values.
In this example, principal
is kept the same, and
the $900 monthly
payment can be reached
by finding an interest
rate of 4.2 percent.
l Repeat Steps 1 to 7 for another value.
Did You Know?
The example in this task shows the loan amount
required to bring the monthly payment down to $900
($113,810). If your purchase price is $120,000, you
would have to contribute a down payment of just
over $6,000 to bring the loan down to that amount.
You could construct a worksheet that allows you to
enter various down-payment amounts.
Did You Know?
If you are not getting a result, you can try clicking
the Office button, Excel Options, and then Formulas.
Then in the Calculations Options area, increase the
maximum iterations.
Chapter 5: Explore the Patterns in Your Data
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