Microsoft Office Tutorials and References
In Depth Information
To Copy the Formulas to Fill the Amortization Schedule
1 Select cell C3. Type Pontoon Boat and then press the DOWN ARROW key.
2 In cell C4, type 41550 and then press the DOWN ARROW key.
3 In cell C5, type 6000 as the down payment.
4 Select cell E2, type 7.25 and then press the DOWN ARROW key.
5 In cell E3, type 5 and then press the DOWN ARROW key. Select cell H22 to display the
worksheet as shown in Figure 4–46.
What happens on the worksheet when the new data is entered?
As shown in Figure 4–46, the monthly payment for the pontoon boat is $708.13 (cell E4).
The total interest is $6,938.00 (cell E5) and the total cost for the boat is $48,488.00
(cell E6). Because the term of the loan is for 5 years, the rows for years 6 through 18 in the
Amortization Schedule section display 0.00.
schedule stops at
5 years because
loan is for 5 years
data table each
is made in
new loan data
total cost of Pontoon
Boat is $48,488.00
if down payment is
$6,000.00, term is
5 years, and interest
rate is 7.25%
cells assigned 0s
because loan is
only 5 years
To Enter the Original Loan Data
The following steps enter the original loan data.
1 Select cell C3. Type Home and then press the DOWN ARROW key.
2 In cell C4, type 265000 and then press the DOWN ARROW key.
3 In cell C5, type 30000 as the down payment.