Problem:
The range B2:G6 contains some of the following parameters for a number of different loans (each occupying a separate column):
Principal, interest rate, total number of payments, and monthly payment.
Based on those details, we want to calculate the following:
1. Monthly payment for the loan detailed in column B.
2. Principal payments in the first month, first year, and last year for the loan detailed in column C.
3. Total number of payments for the loan detailed in column D.
4. Interest rate for the loan detailed in column E.
5. Present value of the loan detailed in column F.
6. First month's interest payment for the loan detailed in column G.
? Solution:
Use the formulas as shown in the screenshot.
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