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