Question

On the Loan worksheet, in cell C9, enter a PMT function to calculate the monthly payment for the Altamonte Springs 2018 facilities loan. Ensure that the function returns a positive value and set the references to cells B5 and B6 as absolute references.

Answer 1

Answer:

We need to find the monthly payment.

Hence, we need to make a Loan Worksheet, and in cell c9 we need to enter a PMT function for calculating the monthly payout required for the Altamonte Springs 2018 Loan facilities. We also need to make sure that the function gives us a positive answer.

And the B5 and B6 are considered as the absolute references. The interest rate is 4.5%, and the payment numbers are 12. And the Altamonte facilities cost is $16450.95

And hence the formula will be:

=-PMT($B$5,$B$6,B7)

Explanation:

Please check the answer section, and attachment.

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