Monday, September 27, 2010

Calculating Payment with Interest

1. Type Interest Rate in A1.

2. Type Years in B1.

3. Type Total Cost in C1. 

4. Click between the A and the B to change the size of the column.  If you can't click between the A and the B it is probably because you have a cell selected.  Press escape and try again.

5. Click on cell A2.

6. Click the Percent sign. 

7. Type in the interest rate.

8. Type in the years for B2.

9. Click the dollar sign for C2. 

10. Type in your dollar amount. 

11. In cell A4 type in Monthly Payment.

12. Here is the tricky part.

13. In cell A5 you have to type in a formula.  Here it is. 

14. After you type in the formula press the enter key.