I am attempting to do this assignment right now and I am confused because whenever I type the stuff in it shows up like error messages so I’m confused if I’m supposed to be typing it in exactly or if I’m supposed to be doing some thing with the $10,000 loan like a calculation? HomeD5123fax ΣΕInsertFunction456789esc12131415161718192021222324A25262728InsertAutoSave OFF10 PMT No Date11ReadyBDrawIAutoSum Recently Financial LogicalUsedX✓ fxV4 April 1,20235 May 1,20236 June 1,2023Loan InformationLoan AmountAnnual Interest RateLoan period in yearsAPage LayoutOptional extra paymentsSheet1C7 July 1,2023#VALUE!8 August 1,202 #VALUE!9 September 1#VALUE!10 October 1,20 #VALUE!---wwwPaayment Beginning ScheduledBalancePayment1 January 1,20 Ending Balar $H$42 Febuary 1,20 #VALUE!3 March 1,20211 November 1,#VALUE!12 December 1, #VALUE!#VALUE!#VALUE!#VALUE!#VALUE!+V21?XAccessibility: InvestigateWvD10000Loan Amortization ScheduleF2NOV1020...CFormulas#3AleText Date & Lookup & Math &Time ReferenceTrigVEOEData80F3FLoan summaryExtraTotalPayment Payment▼$8$4#VALUE!$4ReviewScheduled paymentScheduled paymentGTypeInterest#VALUE!O #VALUE!0F40O #VALUE!RVView%5...MoreFunctionsH#NUM!TypePrincipal#VALUE!#VALUE!#VALUE!#VALUE!0 #VALUE!#VALUE!#VALUE!0O #VALUE! #VALUE! #VALUE!0 #VALUE!#VALUE!#VALUE!#VALUE! #VALUE!0O #VALUE!#VALUE!#VALUE!0O#VALUE!#VALUE!#VALUE!0 #VALUE!#VALUE!#VALUE!0 O #VALUE! #VALUE!#VALUE!0 #VALUE! #VALUE!#VALUE!O #VALUE! #VALUE! #VALUE!NF5TTell meNameManagerIEndingBalanceLab2.xlsxA tv6Define Name vUse in Formula vCreate from SelectionMacBook ProMAF6J&+7F7K*Eyy Trace8TraceFRemoL*FB 3:21Lab 2 - Steps to Enter Formulas to Calculate Pa.22FAMGT353353 MANAGEMENT INFO SYSTEMSSteps to Enter Formulas to Calculate Payments1. Open Lab2.xlsx, click cell H4, click the InsertFunction button on the Formula bar, type PMT,press Enter, click OK, type $D$5/12 in the Ratetext box (You will be copying the PMT function, soyou need to make the values required for thefunction. You divide the interest rate by 12 todetermine the monthly interest rate.)TWULab 2MGT 35332. Click in the Nper box, type $D$6*12, click in thePV box, enter -$D$4, click OK (You multiply theloan period by 12 to determine the number ofmonths you will be paying off the loan. The PV isthe loan amount. You made this value a negativevalue because it is the money owed.)3. Click cell A11, type 1, in cell A12, type 2, selectcells A11:A12, fill the remaining rows in the table(to cell A22) with sequential numbers,4. Click cell B11, type January 1, 2023, pressEnter, in cell B12, type February 1, 2023, pressEnter, select cells B11:B12 and fill the remainingrows in the table with the dates from March 1,2023 to December 1, 2023 (When you enter adate, Excel formats as Day-Month-Year)5G5. Click cell C11, type =D4 to enter the beginningbalance ($10,000), press Enter, ignore theadditional entries114016. Click cell D11, type =$H$4, press Enter7. Click cell E11, type = $D$8, then press Enter8. Click cell F11, enter the formula =D11+E11 toadd the Scheduled Payment to the Extra payment9. Click cell G11, enter the formula =C11*DashboardCalendarTo DoNotificationsInbox

Mortgage or loan calculations can get tricky at times. This is even more correct if various…

Answered: $10,000 loan like a calculation

Business

Accounting

$10,000 loan like a calculation

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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