Microsoft Office Tutorials and References

In Depth Information

**Review Questions**

REVIEW QUESTIONS

You will find these examples in the Excel Chapter 32 file:

1.
Create new names and calculate the loan payment for the example in the

Chapter 32

s Review sheet. The loan amount is $300,000, the interest rate is

7.12 percent, and the number of years is 10.

2.
Create an amortization table for the loan beginning on February 15, 2010. The

table should have 120 months.

3.
Using the CUMIPMT function, calculate the interest paid for the year 2012.

4.
Using the CUMPRINC function, calculate the principal paid for the

le

’

rst

ve

years of the loan. What would be the balance of the loan after

ve years?

ANSWERS

1.
Creating the names.