Topic_4_DQ_2_Finished

.xlsx

School

Brigham Young University, Idaho *

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Course

220

Subject

Industrial Engineering

Date

May 7, 2024

Type

xlsx

Pages

5

Uploaded by ChefTurtle10390

Excel Skills Learned Upon completing the sheet, you should have an understanding of: 1. Entering more complicated loan payment formula. 2. Reusing a formula for repeated calculations Math Skills Learned 1. How to compute periodic payments on a loan. 2. Computing total paid for a loan and interest paid. Instructi tasks ind indicate sheet is
tions : Open the tab labeled "Loans" and complete the dicated there. Start by entering your name where ed. Pay attention to the legend and note that the s self-checking.
Enter you name here Your Name Here Use at least five letters. Ashley Legend If a cell is shaded You should If your formulas are correct, the Blue Enter a text response as green o Green Enter a number Gold Enter an Excel formula Any other color Make no changes Financial Calculator P r n t Formula 8,555 0.022 12 8 For each of the following use the financial calculator you just made for the first cell in each. Here we will practice with some formulas that you will often need to use throughout this class. If you format these correctly, then the computed values should inherit the correct formatting. Periodic payment on a loan of $P at APR r% compounded n times per year. Again, often n = 12 and the period is a month. Compute the monthly payments to pay back a loan of $2200 in 5 years an APR of 20.29% compounded monthly. Find the total amount payed on the loan and the interest payed. PMT = 𝑃⋅(𝑟/𝑛)/(1−(1+𝑟/𝑛)^(−𝑛⋅
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