Shelly Cashman Excel 2016 | Module 4: SAM Project 1a
Financial Functions, Data Tables, and Amortization Schedules
Switch to the Campground Mortgage worksheet.
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.
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.
Apply a Highlight Cells conditional formatting rule to the range A12:A26 that formats any cell in the range that is equal to the value in cell D3 (using an absolute reference to cell D3) with Green Fill with Dark Green Text.
In cell J4, create a formula without using a function that subtracts the value in cell I4 from the value in cell H4 to determine how much of the mortgage principal is being paid off each year.
Copy the formula in cell J4 to the range J5:J18.
Copy the formula from cell K4 into the range K5:K18.
Apply custom cell borders with a Green, Accent 6, Darker 50% (10th column, 6th row in the Theme Colors palette) line color as described below:
Unhide the Campground Research worksheet.
In cell B8, create a formula without using a function that determines the total interest associated with the mortgage. First multiply the value in cell B6 (the number of terms) by the value in cell B7 (the number of monthly payments) and by 12 (to convert the yearly terms to monthly terms), and then subtract the value in cell B4 (the total loan amount).
Copy the formula in cell B8 into the range C8:E8.
In cell B11, create a formula using the PV function to determine the outstanding balance of the campground mortgage at the end of the current year using the parameters below:
Copy the formula from cell B11 to the range C11:E11.
Your workbook should look like the Final Figures below. Save your changes, close the workbook, and then exit Excel. Follow the directions on the SAM website to submit your completed project.
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