H Instructions SC EX19 4b Protected View Saved to this PC age 1 of 5 1190 words 46'F Mostly clear References Mailings Review View Help Home Insert Draw Design Layout OTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View, 1. Search (Alt+Q) PROJECT STEPS Ricardo and Miranda Ramos are considering whether to buy their first home, and have spoken to three lenders about taking out a mortgage for the house purchase. They now pay $1,500 per month in rent and can pay up to $1,600 per month for a mortgage. Miranda has created an Excel spreadsheet to compare the terms of the mortgage. She asks you to help her complete the analysis of their loan options. 2. 3. Enable Editing Go to the Mortgage Calculator worksheet. The cells in the range B5:87 have defined games, but one is incomplete and could be confusing. Cell A2 also has a defined name, which is unnecessary for a cell that will not be used in a formula. Update the defined names in the worksheet as follows: a. Delete the Logn Payment Calculator defined name. b. For cell 87, edit the defined name to use Loan Amt as the name. [Mac Hint: Delete the existing defined name "Loan_Am" and add the new defined name.] In cell B7, calculate the loan amount by entering a formula without using a function that subtracts the Down Payment from the Price. Miranda also wants to use defined names in other calculations to help her interpret the formulas. In the range D3:D7, create defined names based on the values in the range C3:C7. CENGAGE Focus EG Col
H Instructions SC EX19 4b Protected View Saved to this PC age 1 of 5 1190 words 46'F Mostly clear References Mailings Review View Help Home Insert Draw Design Layout OTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View, 1. Search (Alt+Q) PROJECT STEPS Ricardo and Miranda Ramos are considering whether to buy their first home, and have spoken to three lenders about taking out a mortgage for the house purchase. They now pay $1,500 per month in rent and can pay up to $1,600 per month for a mortgage. Miranda has created an Excel spreadsheet to compare the terms of the mortgage. She asks you to help her complete the analysis of their loan options. 2. 3. Enable Editing Go to the Mortgage Calculator worksheet. The cells in the range B5:87 have defined games, but one is incomplete and could be confusing. Cell A2 also has a defined name, which is unnecessary for a cell that will not be used in a formula. Update the defined names in the worksheet as follows: a. Delete the Logn Payment Calculator defined name. b. For cell 87, edit the defined name to use Loan Amt as the name. [Mac Hint: Delete the existing defined name "Loan_Am" and add the new defined name.] In cell B7, calculate the loan amount by entering a formula without using a function that subtracts the Down Payment from the Price. Miranda also wants to use defined names in other calculations to help her interpret the formulas. In the range D3:D7, create defined names based on the values in the range C3:C7. CENGAGE Focus EG Col
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter3: Cost Behavior And Cost Forecasting
Section: Chapter Questions
Problem 63P
Related questions
Question
My question is How do I find the formula for Cell A11 and where do I need to calculate those so that I can work on that easily before putting in Excel?
![Instructions SC EX19_4b- Protected View Saved to this PC
View Help
File Home Insert Draw Design Layout References Mailings Review
PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View.
PROJECT STEPS
Ricardo and Miranda Ramos are considering whether to buy their first home, and have
spoken to three lenders about taking out a mortgage for the house purchase. They now
pay $1,500 per month in rent and can pay up to $1,600 per month for a mortgage.
Miranda has created an Excel spreadsheet to compare the terms of the mortgage. She
asks you to help her complete the analysis of their loan options.
w AutoSave
31
13H
Page 1 of 5
1190 words
46°F
Mostly clear
1.
2.
Search (Alt+Q)
3.
Enable Editing
Go to the Mortgage Calculator worksheet. The cells in the range B5:B7 have defined
games, but one is incomplete and could be confusing. Cell A2 also has a defined name,
which is unnecessary for a cell that will not be used in a formula.
Update the defined names in the worksheet as follows:
a. Delete the Loan_Payment Calculator defined name.
b.
For cell B7, edit the defined name to use Loan_Amt as the name. [Mac Hint:
Delete the existing defined name "Loan_Am" and add the new defined name.]
In cell B7, calculate the loan amount by entering a formula without using a function that
subtracts the Down Payment from the Price.
Miranda also wants to use defined names in other calculations to help her interpret the
formulas.
In the range D3:D7, create defined names based on the values in the range C3:C7.
CENGAGE
hp
"1
Focus
JEFFREY WANG JW
BO
Comments
6
View](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb7b9bc12-9bec-475d-bc99-e13d2a9b76e2%2F6d9185c6-f0bd-41e8-8334-7f3ed12cda6e%2Fx4tux2_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Instructions SC EX19_4b- Protected View Saved to this PC
View Help
File Home Insert Draw Design Layout References Mailings Review
PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View.
PROJECT STEPS
Ricardo and Miranda Ramos are considering whether to buy their first home, and have
spoken to three lenders about taking out a mortgage for the house purchase. They now
pay $1,500 per month in rent and can pay up to $1,600 per month for a mortgage.
Miranda has created an Excel spreadsheet to compare the terms of the mortgage. She
asks you to help her complete the analysis of their loan options.
w AutoSave
31
13H
Page 1 of 5
1190 words
46°F
Mostly clear
1.
2.
Search (Alt+Q)
3.
Enable Editing
Go to the Mortgage Calculator worksheet. The cells in the range B5:B7 have defined
games, but one is incomplete and could be confusing. Cell A2 also has a defined name,
which is unnecessary for a cell that will not be used in a formula.
Update the defined names in the worksheet as follows:
a. Delete the Loan_Payment Calculator defined name.
b.
For cell B7, edit the defined name to use Loan_Amt as the name. [Mac Hint:
Delete the existing defined name "Loan_Am" and add the new defined name.]
In cell B7, calculate the loan amount by entering a formula without using a function that
subtracts the Down Payment from the Price.
Miranda also wants to use defined names in other calculations to help her interpret the
formulas.
In the range D3:D7, create defined names based on the values in the range C3:C7.
CENGAGE
hp
"1
Focus
JEFFREY WANG JW
BO
Comments
6
View
Transcribed Image Text:X
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2.
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F17
1
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3
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31
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Y
Date
Property
Price
Down Payment
Loan Amount
9
10
Rate
11 P(1/N))/(1-(1/N})^-T)
12
4.00%
13
4.08%
14
4.16%
15
4.24%
16
17
4.32%
4.40%
4.48%
4.56%
18
19
4.64%
4.72%
4.80%
4.88%
4.96%
SC EX19_4b JeffreyWang 2
Draw Page
Calibri
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A
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C
New House Mortgage Calculator
46°F
Mostly clear
Page Layout Formulas
Layout
$
$
BIU A
$
10/1/2021
Beecher Street
Font
Rate
Term in Months
350,000 Monthly Payment
Total Interest
35,000
315,000 Total Cost
12
Varying Interest Rates and Terms
Number of Months
240
$1,908.84
$1,922.14
$1,935.50
$1,948.91
$1,962.37
$1,975.88
$1,989.45
ν Α' Α'
A
180
$2,330.02
$2,342.67
$2,355.35
$2,368.08
$2,380.85
$2,393.66
$2,406.51
$2,419.40
$2,432.33
$2,445.30
$2,458.31
$2,471.35
$2,484.44
Y
$
$
$2,003.06
$2,016.73
$2,030.45
$2,044.22
$2,058.04
$2,071.91
Data
Is
E
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Review View Help
D
三EE
24.32%
360
$1,562.55
247,516.76
597,517
360
$1,503.86
$1,518.42
$1,533.06
$1,547.77
$1,562.55
$1,577.40
$1,592.32
$1,607.31
$1,622.37
$1,637.50
$1,652.70
$1,667.96
$1,683.30
E
Alignment
O Search (Alt+Q)
Wrap Text
Merge & Center
Documentation Sheet1 Mortgage Calculator Listings Car Loan
Accessibility: Investigate
F
Scenarios
Loan Amount
Annual Interest Rate
Monthly Interest Rate
Loan Period in Years
Loan Period in Months
Start Date
Monthly Payment
Future Value
V
+
$
F
Current Rent
$
Monthly House Payment $
General
$% 500 00
G
Number
Bank 1
315,000 $
4.40%
0.37%
30
360
1/5/2022
$
1,500
1,563
H
Bank 2
5
($1,176,334.51) $1,151,573.10
Conditional Format as Cell
Formatting - Table Styles
Styles
$
4.56%
0.38%
30
360
1/5/2022
(1,500) $
1
I
Bank 3
337,500
4.56%
0.38%
--
20
240
1/5/2022
(1,500)
J
2T
HIX
Insert Delete Format
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Cells
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JEFFREY WANG
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