Open the file SC_EX16_4a_FirstLastNamexlsx, available for download from the SAM website.
Save the file as SC_EX16_4a_FirstLastNamexlsxby changing the “1” to a “2”.
If you do not see the .xlsx file extension in the Save As dialog box, do not type it. The program will add the file extension for you automatically.
With the file SC_EX16_4a_FirstLastNamexlsx still open, ensure that your first and last name is displayed in cell B6 of the Documentation sheet.
o If cell B6 does not display your name, delete the file and download a new copy from the SAM website.
PROJECT STEP
Justin and Kaleen Millowski have always dreamed of purchasing and running a campground. Kaleen wants to be ready when a campground becomes available, so she decides to start calculating how a mortgage will impact her family’s budget on a monthly basis and over the life of the loan. She also wants to consider how different mortgage interest rates will impact the total cost of the campground.
Switch to the Campground Mortgageworksheet.
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Get Help Now!In cell D5, create a formula using the PMT function to determine the monthly payments for the anticipated Campground mortgage, using the defined names Rate, Term_Years, and Loan_Amount as the rate, nper, and pv arguments in the formula.
Put a negative sign before the PMT function to make the formula return a positive value.
In the function, Rate should be dividedby12to calculate the monthly interest rate, and Term_Yearsshould be multipliedby12 to calculate the total number of monthly payments.
Kaleen calculated the anticipated total cost of the campground usingthe mortgage interest rate she expects to qualify for. She now wants to determine how different interest rates could impact the total cost of the campground.
Select the range A12:A26 and fill it with a percent series based on the values in range A12:A13. These values are the interest rates that Kaleen will analyze in the Varying Interest Rate Schedule.
Create a single variable data table to determine the impact that the variable interest rates (in the range A12:A22) will have on the total cost of the campground.
In cell B11, create a formula without using a function that references cell D5 (the monthly payments).
In cell C11, create a formulawithout using a function that references cell D6 (the total interest paid on the loan).
In cell D11, create a formula without using a function that references cell D7(the total cost of the mortgage).
Select the range A11:D26 and create a single-variable data table, using an absolutereference to cell D3 (the mortgage interest rate) as the Column input cell.
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The post Open the file SC_EX16_4a_FirstLastNamexlsx, available for download from the SAM website. Save the file as SC_EX16_4a_FirstLastNamexlsxby changing the “1” to a “2”. If you do not see the .xlsx file extension in the Save As dialog box, do not type it. The program will add the file extension for you automatically. With the file SC_EX16_4a_FirstLastNamexlsx still open, ensure that your first and last name is displayed in cell B6 of the Documentation sheet. o If cell B6 does not display your name, delete the file and download a new copy from the SAM website. appeared first on My Nursing Papers.
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