# 1. Liam Richardson is the business manager for the Smith & Lyngate Insurance agencies in the state of Maryland. Liam...

## Question:

1. Liam Richardson is the business manager for the Smith & Lyngate Insurance agencies in the state of Maryland. Liam is interested in increasing the number of agents in Baltimore and plans to buy an office building for the new operation. He has asked for your help in creating a loan analysis that summarizes information about the loans to cover the cost of the building.

Go to the Loan Calculator worksheet. The cells in the range B6:38 have defined names, but one is incomplete and could be confusing. Cell A2 also has a defined name, which is unnecessary for a cell that will not be used in a formula.

Update the defined names in the worksheet as follows: Delete the Loan_Calculator defined name. For cell B8, edit the defined name to use Loan_Amount as the name.

2. In cell B8, calculate the loan amount by entering a formula without using a function that subtracts the Down_Payment from the Price.

3. Liam also wants to use defined names in other calculations to help him interpret the formulas.

In the range D4:08, create defined names based on the values in the range C4:08.

**Related Book For**

## Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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