easy access to excel loan sheet

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LOAN SHEET in MICROSOFT EXCEL

A Project Submitted in Part Completion of

Bachelor of Commerce B.Com (P )

By- Ramraj Bharti, Roll No- 1528, B.Com (P), Sec- A, Final Year

ABSTRACT:

This Project Report Provides a Comprehensive and detailed

stages which a user might be face while making a LOAN SHEET

in MICROSOFT EXCEL. An Assignment with random values is

Considered as an Example throughout the Project to Evaluate

the Pre and Post Effects of Formulas used in making the LOAN

SHEET.

RAMANUJAN COLLEGE

University of Delhi

Kalkaji, New Delhi

November 2013

Practical Question:-

Loan Amount is ₹ 1, 00,000, borrowed at 12% per annum rate ofinterest. Loan Period is 5 years.

If Type of Payment is:-

1 for Yearly

2 for Semi Annually

3 for Quarterly

4 for Monthly

And Instalments are paid Quarterly in a Year.

CALCULATE:-

a) Number of Instalments to be paid

b) Effective rate of Interest

c) Amount of Instalment

d) Payment Number of Every Year

e) Opening Balance of Every Year

f) Interest Of All Years

g) Instalments of all Years

h) Closing Balance of all Years

Prepare a Generalised Loan sheet showing all above Values using

Necessary Formulas.

Solution

To Calculate above Values Necessary steps are given below.

Step 1: Click on START Button

Click onSTART Button

Step 2: Select MICROSOFT EXCEL from START Menu.

Step 3: A New EXCEL WORK BOOK is opened now.

Step 4: Click on FILE Option to RENAME EXCEL WORK BOOK

Step 5: Click on SAVE AS Option in FILE Menu

Click on FILE

Option

Click on SAVE AS

Step 6: After Clicking on SAVE AS a NEW Dialog Box will open, in this dialog box Selectrequired Destination to SAVE WORKBOOK . I.e. DESKTOP

Step 7: In the Above Dialog Box Enter FILE NAME (LOAN SHEET) and then Click on

Step 7: WORKBOOK is now saved on Desktop and NAME is shown on the Top of

WORKBOOK .

Type the FILE

Name here then

CLICK SAVE

Name of

WORKBOOK

Step 8: Enter LOAN SHEET on the 1st row of WORKSHEET i.e. C1

Step 9: Click on Merge & Centre to Merge Cells of WORKBOOK and Align text (LOANSHEET) in Centre

Select TEXT and clickMerge & Centre and then

Increase Font Size

Type LOAN SHEET

in Cell C1

Step 10: Enter Amount of Loan in Workbook in Cell A2

Step 11: Enter Rate of Interest in Cell A3

Amount ofLoan in Cell A2

Rate of Interestin Cell A3

Step 12: Enter Period of Loan in Cell A4

Step 13: Enter Amount of Instalment in Cell A5

Period of Loanin Cell A4

Amount of

Instalment in Cell A5

Step 14: Enter Effective Rate of Interest in Cell A6

Step 15: Enter Number of Instalments in Cell A7

Effective Rate of

Interest in Cell A6

Number ofInstalments in A7

Step 16: Enter Value of Amount of Loan i.e. 100000 in Cell C2

Step 17: To Insert ₹ Symbol Right Click on Cell C2 and Select Format Cells

Rs.100000in Cell C2

Click on Format Cells

Step 18: A New Dialogue Box Will open in Which Select Currency (₹) and then Click OK

Step 19: Enter Value of Rate of Interest i.e. 12% P.A in Cell C3

12% P.A in

Cell C3

Select

Currency

₹ Symbol

Click OK

Step 20: Enter Value of Period of Loan i.e. 5 Years in Cell C4

5 Years inCell C4

Step 21: Now Enter Type of Payment i.e. in Cell F2

a) Type 1 for Yearly Payment in Cell F3

b) Type 2 for Half Yearly Payment in Cell F4

c) Type 3 for Quarterly Payment in Cell F5

d) Type 4 for Monthly Payment in Cell F6

Type of Payment in

Cells F3,F4,F5,F6

Step 22: To Calculate Number of Instalments Type Formula:

=IF(F5=3,C4*4)

Step 23: Press Enter after entering the above Formula

=IF(F5=3,C4*4)

Formula

=IF(F5=3,C4*4)

Output

Step 24: Now Calculate Effective Rate of Interest by Using Formula=IF(F5=3,C3/4) in Cell E6

Step 25: Press Enter after Entering Above Formula

=IF(F5=3,C3/4)

Formula

=IF(F5=3,C3/4)

Output

Step 26: Now To Calculate Amount of Instalment,Click on FORMULAS in Toolbar

Step 27: In Formulas Click on Financial, Then a Dialogue Box Showing List of Formulas will open

Click onFORMULAS

List of Formulas under

FINANCIAL

Step 28: In Financial Select PMT Function From the List

Step 29: By Clicking on PMT a New Dialogue Box will open in which we have to Fill requiredFields

Select PMT

Function

Step 30: In the Above Dialog Box, EnterRate = C6

Net Period = C7

Present Value = -C2

Future Value = 0

Enter theValues andPress OK

Step 31: Press OK in the Above Dialogue Box to Get the Result

Formula=PMT E6 E7 -E2 0

Output

₹ 6,721.57

Step 32: Now To Make a Table Showing Payment No, Opening Balance, Interest,

Instalment, and Closing Balance type Headings in Respective Cells:a) PAYMENT NO. in Cell I1

b) OPENING BAL in Cell J1 c) INTEREST in Cell K1 d) INSTALMENT in Cell L1 e) CLOSING BAL IN Cell M1

Step 33: Now Enter 1 in PAYMENT NO. I.e. in Cell I2

Step 34: In OPENING BAL write Formula in Cell J2 to copy Amount of loan i.e.

=(C2) and press ENTER

Formula

Outcome

₹ 1,00,000.00

Step 35: To Calculate INTEREST formula Entered is:

=(C2*$C$6) and then press ENTER

NOTE: $ Sign is placed between Cell No. to Freeze the Vertical andHorizontal Effect.

Formula

=(C2*$C$6)

Output

Step 36: In INSTALMENT write Formula in Cell L2 to copy Amount of instalment i.e.

=($C$5) and then press ENTER

Formula

=($C$5)

Output

₹ 6,721.57

Step 37: To Calculate CLOSING BAL Write Formula:

=(J2+K2-L2) and then press ENTER

Formula

=(J2+K2-L2)

Output

₹ 96,278.43

Step 38: Now to Enter PAYMENT NO. In Next Row we have to put Following Formula:

=IF(I2<$C$7,(I2+1),” “) and then press ENTER

NOTE: This Formula is Used in order that Total Number of Instalment Does not Exceed the Number of Instalments to be Paid, If so Values may be Manipulated, By Entering this formula

it’ll not happen, This is Known as GARBAGE CLEANING.

Formula

=IF(I2<$C$7,(I2+1),” “)

Output2

Step 39: Now to Enter OPENING BAL in Next Row we have to put Following Formula:

=IF(I3=” “,” “,M2) then Press ENTER

Formula

=IF(I3=” “,” “,M2) Output

96278.43

Step 40: Now to Enter INTEREST in Next Row we have to put Following Formula:

=IF(I2=” “,” “,I3*$C$6) and then Press ENTER

Formula=IF(I2=” “,” “,I3*$C$6)

Output

2888.35

Step 41: Now to Enter INSTALMENT in Next Row we have to put Following Formula:

=IF(I3=" "," ",$L$2) and then Press ENTER

Formula

=IF(I3=" "," ",$L$2) Output

6721.57

Step 42: Now to Enter CLOSING BAL in Next Row we have to put Following Formula:

=IF(I3=" "," ",J3+K3-L3) and then Press ENTER

Formula

=IF(I3=" "," ",J3+K3-L3)

Output

92445.21

Step 43: Now to calculate remaining PAYMENT NO. Copy the Formula to I3 to I250

(assuming that in a transaction there can be maximum 240 instalments)To Copy Formulas Drag the Mouse From the Preceding Cell (I3) as Shown in Figure:-

Place your Mouse Cursor

here and Drag up to I250as Shown in next Slide

Step 44: Drag the Mouse Cursor when it appears like + than Drag up to I250

Formulas are

copied in CellsI3 to I250

Step 45: Similarly, Copy Formulas in OPENING BAL by above Procedure:-

Formulas arecopied in Cells

J3 to J250

Step 46: Similarly, Copy Formulas in INTEREST by above Procedure:-

Formulas arecopied in Cells

K3 to K250

Step 47: Similarly, Copy Formulas in INSTALMENT by above Procedure:-

Formulas are copied in

Cells L3 to L250

Step 48: Similarly, Copy Formulas in INSTALMENT by above Procedure:-

Values of All the Cells have changed and Closing Balance is ₹ 0.00,

I.e. Amount of Loan is paid.

Formulas are copied in Cells

M3 to M250

Step 49: Now mark J2 to M21 i.e. OPENING BAL to CLOSING BAL

Data from J2 to

M21 Is Marked

Step 50: Right Click the Mouse on MARKED DATA and select FORMAT CELLS

Click on

Format Cells

Step 51: A New Dialogue Box will Open in which select CURRENCY and Change SYMBOL

from NONE to ₹ and then Click OK

And then Click

SelectCURRENCY

Change SYMBOL

from NONE to ₹

Step 52: After we Click OK , New Formatted Cells will be:-

₹ Sign is placed in

all the Cells

Step 53: Now, Draw a Table for,

PAYMENT NO., OPENING BAL, INTEREST, INSTALMENT and CLOSING BAL.

To draw a Table Mark the Data i.e. Cells I1 to M21 (PAYMENT NO. to CLOSING BAL) and the go to HOME In TOOLBAR and click on Bottom Border.

All Cells aremarked, Now Click

on Bottom Border

Step 54: Select ALL BORDERS in Bottom Borders.

Step 55: Table is Created Now

TABLEwith Borders

Step 56: Now Save the Loan Sheet, Click on File in the Toolbar and then Click SAVE. File will be saved at its Destination.

LOAN SHEET is Now Saved for Future Use.

Click on FILE and

Then Click SAVE

Loan Sheet is Done and the Final Output is:-

easy access to excel loan sheet

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