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.

amortization

schedule stops at

5 years because

loan is for 5 years

Excel

automatically

recalculates

data table each

time entry

is made in

worksheet

new loan data

new loan

information

calculated

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

Figure 4–46

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.