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2. Cell D4 has a defined name, which is unnecessary for a cell that will not be used in a formula. Delete the name for cell D4 from the worksheet. 3. Nadia wants to assign names to other cells to help her interpret the loan calculations. In the range D5:D7, define names based on the values in the range C5:C7. Define names for the range F5:F7 based on the values in the range E5:E7. 4. Nadia needs to calculate the monthly payment for the loan to fund the law firm's transition to the cloud. In cell F5, enter a formula using the PMT function. Insert a negative sign (-) after the equal sign in the formula to display the result as a positive amount. Use defined names for the rate, nper, and pv arguments as follows: • rate argument: Divide the Rate by 12 to use the monthly interest rate. • nper argument: Multiply the Term by 12 to specify the number of months as the periods. • pv argument: Use the Loan_Amount as the present value of the loan. 5. Nadia wants to calculate the total interest, which is the total amount of the payments minus the loan amount. In cell F6, enter a formula without using a function that multiplies 12 by the Term and the Monthly_Payment, and then subtracts the Loan_Amount to determine the total interest. 6. In cell F7, enter a formula without using a function that adds the Loan_Amount to the Total_Interest to determine the total cost of the loan. 7. Nadia wants to compare monthly payments, total interest, and total cost for interest rates that vary from 7.725% to 8.075%. She has already entered formulas to insert the monthly payment in cell D11, the total interest in cell E11, and the total cost in cell F11.

          2. Cell D4 has a defined name, which is unnecessary for a cell that will not be used in a formula. Delete the name for cell D4 from the worksheet.
3. Nadia wants to assign names to other cells to help her interpret the loan calculations. In the range D5:D7, define names based on the values in the range C5:C7. Define names for the range F5:F7 based on the values in the range E5:E7.
4. Nadia needs to calculate the monthly payment for the loan to fund the law firm's transition to the cloud. In cell F5, enter a formula using the PMT function. Insert a negative sign (-) after the equal sign in the formula to display the result as a positive amount. Use defined names for the rate, nper, and pv arguments as follows:
• rate argument: Divide the Rate by 12 to use the monthly interest rate.
• nper argument: Multiply the Term by 12 to specify the number of months as the periods.
• pv argument: Use the Loan_Amount as the present value of the loan.
5. Nadia wants to calculate the total interest, which is the total amount of the payments minus the loan amount. In cell F6, enter a formula without using a function that multiplies 12 by the Term and the Monthly_Payment, and then subtracts the Loan_Amount to determine the total interest.
6. In cell F7, enter a formula without using a function that adds the Loan_Amount to the Total_Interest to determine the total cost of the loan.
7. Nadia wants to compare monthly payments, total interest, and total cost for interest rates that vary from 7.725% to 8.075%. She has already entered formulas to insert the monthly payment in cell D11, the total interest in cell E11, and the total cost in cell F11.

2. Cell D4 has a defined name, which is unnecessary for a cell that will not be used in a formula. Delete the name for cell D4 from the worksheet.
3. Nadia wants to assign names to other cells to help her interpret the loan calculations. In the range D5:D7, define names based on the values in the range C5:C7. Define names for the range F5:F7 based on the values in the range E5:E7.
4. Nadia needs to calculate the monthly payment for the loan to fund the law firm's transition to the cloud. In cell F5, enter a formula using the PMT function. Insert a negative sign (-) after the equal sign in the formula to display the result as a positive amount. Use defined names for the rate, nper, and pv arguments as follows:
• rate argument: Divide the Rate by 12 to use the monthly interest rate.
• nper argument: Multiply the Term by 12 to specify the number of months as the periods.
• pv argument: Use the LoanAmount as the present value of the loan.
5. Nadia wants to calculate the total interest, which is the total amount of the payments minus the loan amount. In cell F6, enter a formula without using a function that multiplies 12 by the Term and the MonthlyPayment, and then subtracts the LoanAmount to determine the total interest.
6. In cell F7, enter a formula without using a function that adds the LoanAmount to the TotalInterest to determine the total cost of the loan.
7. Nadia wants to compare monthly payments, total interest, and total cost for interest rates that vary from 7.725% to 8.075%. She has already entered formulas to insert the monthly payment in cell D11, the total interest in cell E11, and the total cost in cell F11.

Added by Laura S.

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