1. Input a formula in cell B12 to compute the loan amount by subtracting the down payment from the purchase price. This formula will need to be an =IF function since the down payment can be stated as either a dollar amount or a percentage. If the down payment is a percentage, you will need to convert that percentage into a dollar amount. For example, if a client purchases a $200,000 home and is going to put 10% down, the down payment is $20,000 and the loan amount will be $180,000. Format cell B12 to show a $ and two decimal places.

Home Financing Worksheet
Instructions: Input information only in cells shaded in blue.
Home Purchase Price	$ 175,000
Downpayment:
Dollar Amount
or
Percentage	5%
Loan Amount	B12
Annual Interest Rate	6%
Number of Years	30
Monthly Payment Amount