Please see excel questions below, I’m looking for help with formulas. Thank you.
1) Loan Amount
2) Number of Periods
3) Monthly Rate
4) Monthly Payment, In cell E5, use the PMT function to calculate the monthly payment. Make sure the result displays as a positive number.
5) Total Interest Paid, In cell E6, use the CUMIPMT function to calculate the cumulative total interest paid throughout the loan. Make sure the result displays as a positive number. Assume the payment is made at the end of the month.
6) In cell C11, enter a formula to reference the date stored in cell B7