Topic_4_DQ_2_Finished
xlsx
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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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en your results should show
on grey Excel Equivalent
PMT = P*(r/n)/(1 - (1 + r/n)^(-n*t))
Periodic Payment (PMT)
Total Payed (Tot = PMT*n*t)
$97.27
$9,337.73
Monthly Payment
Total Payed (FV = PMT*n*t)
Interest Payed (FV - P)
$58.64
$3,518.53
$1,319
Enter the Excel Formula with correct cell references.
⋅𝑡) )
Interest Payed (Tot - P)
$782.73