How to Calculate Amount Financed in Excel
Create cell borders., Enter column headings., Format the numbers.
Step-by-Step Guide
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Step 1: Create cell borders.
Click in cell B1 and drag to select cells B1 through E1.
On the formatting toolbar, click the arrow on the Borders button and select "Outside borders" from the options available.
Now click and drag to select cells B2 through E2.
On the formatting toolbar, click the arrow on the Borders button and select "Thick bottom borders" from the menu options. -
Step 2: Enter column headings.
Type "Loan Amount" in cell B1, "Interest Rate" in cell C1, "Term of loan," in cell D1 and "Payment" in cell E1. , Click in cell B2 and select the currency ($) option from the number formatting menu, located on the formatting toolbar.
Any value entered in cell B2 will now read as a dollar amount.
Click in cell C2 and select the percentage (%) option from the number formatting menu located on the formatting toolbar.
Any value entered in cell C2 will now read as a percentage. -
Step 3: Format the numbers.
Detailed Guide
Click in cell B1 and drag to select cells B1 through E1.
On the formatting toolbar, click the arrow on the Borders button and select "Outside borders" from the options available.
Now click and drag to select cells B2 through E2.
On the formatting toolbar, click the arrow on the Borders button and select "Thick bottom borders" from the menu options.
Type "Loan Amount" in cell B1, "Interest Rate" in cell C1, "Term of loan," in cell D1 and "Payment" in cell E1. , Click in cell B2 and select the currency ($) option from the number formatting menu, located on the formatting toolbar.
Any value entered in cell B2 will now read as a dollar amount.
Click in cell C2 and select the percentage (%) option from the number formatting menu located on the formatting toolbar.
Any value entered in cell C2 will now read as a percentage.
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Theresa Morgan
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