Smith & Lyngate Insurance
CREATE A LOAN ANALYSIS
– – – – – – – –
GETTING STARTED
Open the file SC_EX19_4a_FirstLastName_1.xlsx, available for download from the
SAM website.
Save the file as SC_EX19_4a_FirstLastName_2.xlsx by changing the “1” to a “2”.
If you do not see the . xisx file extension in the Save As dialog box, do not type it. The
program will add the file extension for you automatically.
With the file SC_EX19_4a_FirstLastName_2.xlsx still open, ensure that your first and
last name is displayed in cell B6 of the Documentation sheet.
If cell B6 does not display your name, delete the file and download a new copy from the
SAM website.
PROJECT STEPS
1.
Liam Richardson is the business manager for the Smith & Lyngate Insurance agencies in
the state of Maryland. Liam is interested in increasing the number of agents in Baltimore
and plans to buy an office building for the new operation. He has asked for your in
creating a loan analysis that summarizes information about the loans to cover the cost of
the building.
Go to the Loan Calculator worksheet. The cells in the range B6:B8 have defined names,
but one is incomplete and could be confusing. Cell A2 also has a defined name, which is
unnecessary for a cell that will not be used in a formula.
Update the defined names in the worksheet as follows:
a.
Delete the Loan_Calculator defined name.
b.
For cell B8, edit the defined name to use Loan Amount as the name.
2.
In cell B8, calculate the loan amount by entering a formula without using a function that
subtracts the Down_Payment from the Price.
