Microsoft Office Tutorials and References
In Depth Information
Adding a row or column of numbers
8 Click in the Rate text i eld, and type or click on the cell B2. Excel displays the value B2
of cell B2 (.04) to the right of the text i eld.
9 Click in the Nper text i eld, and type or click on the cell B3. Excel displays the value B3
of cell B3 (5) to the right of the text i eld.
10 Click in the Pv text i eld, and type or click on the cell B4. Excels displays the value B4
of cell B4 (10000) to the right of the text i eld.
11 Click OK, and Excel displays the formula in cell B5. The annual payment is $2,246.27.
Excel displays the data as currency because this is a i nancial function. Lesson 3 “Editing
Cells,” explains how to format cells for dif erent results. Notice that the result appears
in parentheses to indicate a negative value. In loan calculations, money that you pay is
always a negative amount. You can now save and close this document.
12 Click File > Save, and then click File > Close.
If you want to calculate the monthly payment, you must convert the rate and term values
by dividing the annual interest rate by 12 and multiplying the term by 12. The function
PMT(B2/12, B3*12, B4) calculates the monthly payment.
Adding a row or column of numbers
You can add worksheet numbers by building a formula that uses the SUM function. The
SUM function is useful in adding individual cells. You can also specify a reference to a
column or row in the function’s argument to add a column or row of numbers.
To open the document you need for this lesson:
1
Choose File > Open and navigate to the Excel05lessons folder.
2
Click excel0503 and then click Open.
3
Select File > Save As.
4
In the Save As text i eld, type excel0503_done and then click Save.
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