Nadia wants to compare monthly payments, total interest, and total cost for interest rates that vary from 7.725% to 8.075%. She has already entered formulas to insert the monthly payment in cell D11, the total interest in cell E11, and the total cost in cell F11. Based on the range C11:F26, create a one-variable data table that uses the rate in cell D6 as the column input cell to provide the comparison that Nadia requests. Explain how to in excel

Question

Nadia wants to compare monthly payments, total interest, and total cost for interest rates that vary from 7.725% to 8.075%. She has already entered formulas to insert the monthly payment in cell D11, the total interest in cell E11, and the total cost in cell F11. Based on the range C11:F26, create a one-variable data table that uses the rate in cell D6 as the column input cell to provide the comparison that Nadia requests. Explain how to in excel

Answer 1

To create a one-variable data table in Excel, follow these steps:

1. Select the range C11:F26.
2. Go to the "Data" tab on the Excel ribbon.
3. Click on "What-If Analysis" in the "Data Tools" group.
4. Select "Data Table" from the drop-down menu.
5. In the "Column input cell" box, enter the reference to the cell containing the interest rate, which is D6 in this case.
6. Click OK.

Excel will now calculate the monthly payments, total interest, and total cost for interest rates ranging from 7.725% to 8.075% and display the results in the specified range C11:F26. This allows Nadia to easily compare the different scenarios and make an informed decision based on the financial analysis provided by the data table.