Exercise 5 Project: Mortgage Payment Calculator With Data Table and Amortization Schedule

EXERCISE 5
Project: Mortgage Payment Calculator with Data Table and Amortization Schedule
INSTRUCTIONS:
1. Start Excel and create a blank worksheet in the Excel workbook. Apply a theme to the workbook.
2. Change the Sheet Tab Name
3. Enter the Loan Data as shown below.
4. Create Names Based on Row Titles.

 Select the desired range
 Click the “Create from Selection” button on the FORMULAS tab to display the Create Names from
Selection dialog box
 Click the OK button to name the cells selected in the right column of the selection.
5. Enter the Loan Amount Formula Using Names
 Select the cell to contain the formula
 While entering the formula, double-click the cells to include in the formula to use the names of the cells
rather than the cell references
 Click the Enter box to assign the formula to the selected cell
6. Enter the PMT Function

 Select the cell to contain the formula
 Enter the PMT function
ex: –pmt (Rate/12, 12*Term, Loan_Amount) (result is multiplied by -1)
Frequently Used financial Functions
7. Determine the Total Interest and Total Cost
Using a Data Table to Analyze Worksheet Data

11. Enter the Data Table Title and Column Titles
 Select a cell and type the desired data table section title
 Elect a cell and then click the Format Painter button on the HOME tab to copy the format of the
cell and then click another cell and apply the copied format
 Position the pointer on the bottom boundary of a row heading and drag up or down until the
ScreenTip indicates the desired height
12. Create a Percentage Series Using the Fill Handle

 Type the first two percentages in the series, each in an individual cell
 Select the two cells containing the percentages
 Drag the fill handle through the last cell in the desired series—do not lift your finger or release the
mouse button
 Lift your finger or release the mouse button to generate the percent series
 Click the Increase decimal button on the HOME tab to increase the number of decimal places
13. Enter the Formulas in the Data Table

 Choose a cell and make it active, then press the RIGHT ARROW key to enter the first parameter of the
function to be used in the data table
 Type the function and then press the RIGHT ARROW key
14. Define a Range as a Data Table
 Select the range in which to create the data table

 Click Data Table on the What-If Analysis menu to display the Data Table dialog box
 Click the “Column input cell” box and then click the cell to select as the desired input cell for the data
table
 Click the OK button to create the data table
15. Change the Column Widths and Enter Titles
16. Create a Series of Integers Using the Fill Handle

Formulas for the Amortization Schedule
17. Enter the Formulas in the Amortization Schedule
18. Copy the Formulas to Fill the Amortization Schedule
 Select the range of cells to copy and then drag the fill handle down through the last row to copy the
formulas through the amortization schedule
 Create a reference so that the beginning balance of one year is equal to the cell that contains the
ending balance of the previous year
 Select the beginning balance and drag the fill handle through the end of the range
19. Enter the Total Formulas in the Amortization Schedule

20. Format the Numbers in the Amortization Schedule
21. Add Custom Borders to a Range
 Select the desired range and then press and hold or right-click to display a shortcut menu and mini
toolbar
 Click Format Cells on the shortcut menu
 Display the BORDER tab and click the Color arrow to display the Colors palette and select a desired
color
 Click a desired border in the Style area
 Click the OK button to add the border
22. Add Borders to the Varying Interest Rate Schedule
23. Add Borders to the Amortization Schedule
24. Use Borders and Fill Color to Visually Define and Group the Financial Tools
Protecting and Hiding Worksheets and Workbooks
25. Protect a Worksheet
 Select the range(s) to unprotect
 Right-click one of the selected ranges to display a shortcut menu and mini toolbar
 Click Format Cells on the shortcut menu to display the Format Cells dialog box
 Click the PROTECTION tab and then click Locked to remove the check mark
 Click the OK button to close the Format Cells dialog box
 Deselect the ranges
 Click the Protect Sheet button on the REVIEW tab to display the Protect Sheet dialog box
 When Excel displays the Protect Sheet dialog box, ensure that the “Protect worksheet and contents of locked
cells” check box at the top of the dialog box and the first two check boxes in the list contain check marks so that
the user of the worksheet can select both locked and unlocked cells
 Click the OK button to close the Protect Sheet dialog box
26. Hide and Unhide a Worksheet
 Right-click the sheet tab to hide to display a shortcut menu
 Click Hide on the shortcut menu to hide the sheet
 Right-click any sheet tab to display a shortcut menu
 Click Unhide on the shortcut menu to open the Unhide dialog box
 When Excel displays the Unhide dialog box, click the sheet to unhide
 Click the OK button to unhide the hidden sheet
27. Hide and Unhide a Workbook
 Click the Hide Window button on the VIEW tab to hide the workbook
 Click the Unhide Window button on the VIEW tab to display the Unhide dialog box
 If necessary, click to select the workbook to unhide
 Click the OK button to unhide the selected hidden workbook and display the workbook in the same state as it
was in when it was hidden

Exercise 5 Project: Mortgage Payment Calculator With Data Table and Amortization Schedule

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EXERCISE 5

4. Create Names Based on Row Titles.

6. Enter the PMT Function

7. Determine the Total Interest and Total Cost

Using a Data Table to Analyze Worksheet Data

12. Create a Percentage Series Using the Fill Handle

13. Enter the Formulas in the Data Table

14. Define a Range as a Data Table

 Select the range in which to create the data table

15. Change the Column Widths and Enter Titles

16. Create a Series of Integers Using the Fill Handle

17. Enter the Formulas in the Amortization Schedule

18. Copy the Formulas to Fill the Amortization Schedule

19. Enter the Total Formulas in the Amortization Schedule

21. Add Custom Borders to a Range

23. Add Borders to the Amortization Schedule

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