Question: a . In cell B 1 6 , enter a formula using the CUMIPMT function to calculate the cumulative interest paid on the loan for
a In cell B enter a formula using the CUMIPMT function to calculate the cumulative interest paid on the loan for Year payment in cell B through payment in cell B Use as the type argument in your formula because payments are made at the end of the period.
b Use absolute references for the rate, nper, and pv arguments, which are listed in the range C:C
c Use relative references for the start and end arguments.
d Fill the range C:K with the formula in cell B to calculate the interest paid in Years and the total interest.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
