Microsoft Office Tutorials and References
In Depth Information
To Enter the Formulas in the Amortization Schedule
4
Click the Enter box in the
formula bar to complete the
entry (Figure 4–39).
What happens when the Enter box
is clicked?
Excel displays the interest paid
after 1 year (13312.37332) in cell
K3. Thus, the lending institution’s
gross profi t for the fi rst year of
the loan is $13,312.37.
values displayed
using General
style format
Why are some of the cells in the
range H3:K3 formatted?
When you enter a formula in a
cell, Excel assigns the cell the same
format as the fi rst cell reference
in the formula. For example,
when you enter =c6 in cell H3,
Excel assigns the format in cell C6
to cell H3. The same applies to
cell J3. Although this method of
formatting also works for most
functions, it does not work for the
IF function. Thus, the results of
the IF functions in cells I3 and K3
are displayed using the General
style format, which is the format
of all cells when you open a new
workbook.
amount paid
on principal
after one year
lending
institution’s
gross profi t
for fi rst year
Figure 4–39
 
 
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