Using cell references, create a PMT formula in cell D8 to calculate the monthly loan from NewVentures CapitalInc. Bote: the PMT function uses the same arguments as the PPMT function with the exception that there is no PER criterion. Remeber to divide the rate by 12 and multiply the NPER by 12 to use the monthly units. Using cell refrences create PPMT formulas to find theprincipal portion of the loan payment for the first loan payment in cell D10 and the last loan payment in cell D11. In cell D13, create a formula to calculate the total cost of the loan by multiplying the monthly loan payment times the authorization period in years times 12.
Solved by D. J. in 13 mins