$.$ Enter a formula in cell B$8$ that calculates the periodic interest rate $($the interest rate per payment

period$).$ Do not use a function in your formula. As always, make sure to use references rather than

typing numbers into your formula, otherwise marks will be deducted. For example, if you need the

loan amount in cell B$4,$ enter a reference to B$4$ rather than typing $2000000$ into your formula.

$12.$ Enter a formula in cell B$9$ that calculates the number of payments in the loan. Do not use a function

in your formula.

$13.$ Enter a formula in cell B$13$ that uses the PPMT function to calculate the principal repaid on the first

loan payment. Your formula must return a positive value. If you need to use the values calculated in

steps $11$ or $12,$ make sure to reference them rather than recalculating these values in your formula,

otherwise marks will be deducted. This also applies to the remaining questions in this worksheet.

$14.$ Enter a formula in cell B$14$ that uses the IPMT function to calculate the interest paid on the first loan

payment. Your formula must return a positive value.

$15.$ Enter a formula in cell B$15$ that uses the SUM function to calculate the total of the first loan

payment.

$16.$ Enter a formula in cell F$5$ that uses the CUMPRINC function to calculate the cumulative principal

repaid after the first year. You will need to reference cell E$5$ in your formula for the end payment

number. Your formula must return a positive value. Copy cell F$5$ to cells F$6$ through F$14.$

$17.$ Enter a formula in cell B$18$ that uses the NPER function to calculate the number of periods in the

loan. You can use the total first loan payment calculated in cell B$15$ for the payment amount since all

the loan payments are equal. Make sure to use a negative value for the loan amount in your

formula. Your result should match the value you calculated in cell B$9.$

$18.$ Enter a formula in cell B$19$ that uses the RATE function to calculate the annual interest rate of the

loan. Make sure to use a negative value for the loan amount in your formula. Don't forget to multiply

the result returned by the RATE function by the number of payments in a year to obtain the annual

interest rate. Your result should match the value in cell B$5.$

$19.$ Enter a formula in cell B$20$ that uses the FV function to calculate the future value of the loan

amount. Use a negative value for the payment amount, and a positive value for the loan amount.

Since all the payments are equal, you can use the payment amount in cell B$15.$