Microsoft Office Tutorials and References
In Depth Information
To Enter the Loan Amount Formula Using Names
5. Names are global to the workbook. That is, a name assigned to a cell or cell
range on one worksheet in a workbook can be used on other sheets in the same
workbook to reference the named cell or range.
Spreadsheet specialists often assign names to a cell or range of cells so they can
select them quickly. If you want to select a cell or range of cells using the assigned name,
you can click the Name box arrow (Figure 4–12a) and then click the name of the cell you
want to select. This method is similar to using the F 5 key to select a cell, but it is much
quicker. When you select a name that references a range in the Name list, Excel highlights
the range on the worksheet.
Entering Interest Rates
An alternative to
requiring the user to
enter an interest rate
in percent form, such as
7.75%, is to allow the
user to enter the interest
rate as a number without
an appended percent
sign (7.75) and then
divide the interest rate
by 1200, rather than 12.
To determine the loan amount in cell C6, subtract the down payment in cell C5 from the price in cell C4.
As indicated earlier, this can be done by entering the formula =C4 – C5 or by entering the formula =price –
down_payment in cell C6. You also can use Point mode to enter the formula, as shown in the following steps.
1
Select cell C6.
Type = (equal sign), click cell C4,
type (minus sign), and then click
cell C5 to display the formula in
cell C6 and in the formula bar
using the names of the cells
rather then the cell references
(Figure 4–13).
Enter box
formula
appears in
formula bar
formula
created using
Point mode
Figure 4–13
2
Click the Enter box to assign the
formula =Price – Down_Payment
to cell C6 (Figure 4–14).
name of active
cell appears in
Name box
formula assigned to
active cell appears
in formula bar
Excel displays
result of
formula in cell
Figure 4–14

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