MIS$250-241-$ What$-$If Analysis $($Lab $4)$ Input Area

Two$-$Variable Data Table: APR and Cost of Home

Monthly Payment by Cost$/$APR

TROUBLESHOOTING: If you make any major mistakes in this exercise, you can close the file, open Lab$4$ file

again, and then start this exercise over.

Range Names

CREATE A RANGE NAME

You decide to simplify the PMT function you are using to calculate your mortgage by adding range names for

the Amount of Loan, Periodic Rate, and No$.$ of Payments instead of the actual cell references. After creating

the range names, you will modify the names and create a list of range names.

a$.$ Open Lab$4$ and save it as Lab$4\_$FirstName$\_$LastName$\_$ID$.$

b$.$ Select cell B$2.$ Click the Name Box, type PurchasePrice, and then press Enter.

You manually assigned the range name PurchasePrice to cell B$2.$

c$.$ Select cell B$3.$ Click the Name Box, type DownPayment, and then press Enter.

d$.$ Select the range A$9$:B$13,$ click the Formulas tab, click Create from Selection in the Defined Names

group, and then ensure the Left column check box is selected.

Range names are automatically assigned to values based on the row labels in Column A$.$

e$.$ Click OK in the Create Names from Selection dialog box.

Range names are created for cells B$9$:B$13$ and when any cell in that range is selected, the name

will display in the Name Box.

f$.$ Save the workbook.

EDIT AND DELETE RANGE NAMES

You noticed that a named range was created that was not necessary. You will use the Name Manager dialog

box to view and delete the unneeded name range. You also will add underscores to the DownPayment and

PurchasePrice range names.