How to do this in excel Nadia wants to assign names to other cells to help her interpret the loan calculations. In the range D5:D7, define names based on the values in the range C5:C7. Define names for the range F5:F7 based on the values in the range E5:E7.
To define names based on the values in a range in Excel, you can use the Name Manager feature. Here's how you can do it for the given scenario:
1. Select cells D5:D7.
2. Go to the Formulas tab on the Excel ribbon.
3. Click on Name Manager in the Defined Names group.
4. In the Name Manager dialog box, click on New.
5. In the New Name dialog box, enter a name for the range in the Name field (e.g., LoanType).
6. In the Refers to field, enter the formula "=Sheet1!$C$5:$C$7" (replace "Sheet1" with the actual name of your sheet if different).
7. Click OK to save the defined name.
Repeat the above steps for the range F5:F7, using the values in the range E5:E7. In step 5, you can enter a different name for the range (e.g., LoanCalculation).
Once you have defined the names for the ranges, you can use these names in your calculations or data analysis to refer to the specific ranges easily. Just type the defined name in a formula or click on it in the Name Manager to select the range it refers to.