Page 105 - CalcBus_Flipbook

CH 11] Calculating Business 11-11

Solution algorithm: Build a Loan Payment Schedule using MS Excel® for this problem.

Open your saved program Loan Calculator and you will now add to it the Loan Payment
Schedule. There are some changes to be made to your Loan Calculator that include
widening some columns and titling more cells. Change the values for the Principal Loan to
$25,000, Interest Rate to 5%, and life of loan to 30 years. As these changes are made you
program will automatically update its calculations.

Labeling Cells

1. Place your cursor on the cell D4 and left click your mouse on this cell. In the upper left
you will see the title for this cell as D4. Put your mouse cursor in this location and type
Loan_Amount. This title cell does not accept spaces so you will use the under score ( _ ) 11
to connect Loan and amount. The under score is on your key board keys between the 0
and = key and is the upper character to the minus key ( — ). Hold down your shift key
and tap the minus key ( — ) and you will have the underscore for this cell label.

2. Now you will label the Interest Rate /Period cell, D9. The equation in this cell is =D5/D7.
In the label Cell you will read D9. Here you will type Interest_Rate_Period. Typing in the
label cell does not change the arithmetic in the cell, it only gives it a label. This label has
an underscore line connecting Interest, Rate, and Period.

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