BUSINESS C268/C268 Practice Exam Questions and Answers.
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1. Calculate the payment amount for the loan in cell C15. Reference the cells containing the appropriate loan information as the arguments for the function you use. Cells C20–C67 in the "Payment" c... olumn are populated with the payment amount from cell C15 2. Calculate, in cell D20, the interest amount for period 1 by multiplying the balance in period 0 (cell F19) by the loan interest rate (cell C13) divided by 12. Dividing the interest rate by 12 results in the monthly interest rate. This formula is reusable. The interest for a given period is always the monthly interest rate times the balance from the previous period. 3. Copy the interest amount calculation down to complete the "Interest" column of the amortization table. 4. Calculate, in cell E20, the principal amount for period 1. The principal amount is the difference between the payment amount (cell C20) and the interest amount (cell D20) for period 1. Construct your formula in such a way that it can be reused to complete the "principal" column of the amortization table. [Show More]
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