Financial Modelling and Analysis by Palani Murugappan

Author:Palani Murugappan [Murugappan, Palani]
Language: eng
Format: azw3
Publisher: Blue Micro Solutions
Published: 2014-09-10T04:00:00+00:00

Select cell B7. This is where the interest rate will be placed. Click the Insert Menu and select Function. Select the RATE function. In the Nper text box. Type 15*12 to convert the 15 years to months.

Move to the Pmt text box. Collapse the dialog box. Select cell B4 as illustrated.

Expand the dialog box. Move to the Pv text box. Collapse the dialog box. Select cell B5 for the present value of the apartment (after deducting the down payment).

Expand the dialog box. Click the button to close the Function Arguments dialog box. A final interest rate of 2 percent is obtained as illustrated.

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