easy access to excel loan sheet
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8/13/2019 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
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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.
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Solution
To Calculate above Values Necessary steps are given below.
Step 1: Click on START Button
Click onSTART Button
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Step 2: Select MICROSOFT EXCEL from START Menu.
Step 3: A New EXCEL WORK BOOK is opened now.
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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
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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
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Step 7: In the Above Dialog Box Enter FILE NAME (LOAN SHEET) and then Click on
SAVE
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
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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
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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
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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
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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
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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
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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
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Step 20: Enter Value of Period of Loan i.e. 5 Years in Cell C4
5 Years inCell C4
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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
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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
20
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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
0.03
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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
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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
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Step 30: In the Above Dialog Box, EnterRate = C6
Net Period = C7
Present Value = -C2
Future Value = 0
Enter theValues andPress OK
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Step 31: Press OK in the Above Dialogue Box to Get the Result
Formula=PMT E6 E7 -E2 0
Output
₹ 6,721.57
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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
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Step 33: Now Enter 1 in PAYMENT NO. I.e. in Cell I2
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Step 34: In OPENING BAL write Formula in Cell J2 to copy Amount of loan i.e.
=(C2) and press ENTER
Formula
= C2
Outcome
₹ 1,00,000.00
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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$6)
Output
3000
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Step 36: In INSTALMENT write Formula in Cell L2 to copy Amount of instalment i.e.
=($C$5) and then press ENTER
Formula
=($C$5)
Output
₹ 6,721.57
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Step 37: To Calculate CLOSING BAL Write Formula:
=(J2+K2-L2) and then press ENTER
Formula
=(J2+K2-L2)
Output
₹ 96,278.43
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Step 38: Now to Enter PAYMENT NO. In Next Row we have to put Following Formula:
=IF(I2<$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$7,(I2+1),” “)
Output2
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Step 39: Now to Enter OPENING BAL in Next Row we have to put Following Formula:
=IF(I3=” “,” “,M2) then Press ENTER
Formula
=IF(I3=” “,” “,M2) Output
96278.43
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Step 40: Now to Enter INTEREST in Next Row we have to put Following Formula:
=IF(I2=” “,” “,I3*$C$6) and then Press ENTER
Formula=IF(I2=” “,” “,I3*$C$6)
Output
2888.35
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Step 41: Now to Enter INSTALMENT in Next Row we have to put Following Formula:
=IF(I3=" "," ",$L$2) and then Press ENTER
Formula
=IF(I3=" "," ",$L$2) Output
6721.57
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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
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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
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Step 44: Drag the Mouse Cursor when it appears like + than Drag up to I250
Formulas are
copied in CellsI3 to I250
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Step 45: Similarly, Copy Formulas in OPENING BAL by above Procedure:-
Formulas arecopied in Cells
J3 to J250
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Step 46: Similarly, Copy Formulas in INTEREST by above Procedure:-
Formulas arecopied in Cells
K3 to K250
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Step 47: Similarly, Copy Formulas in INSTALMENT by above Procedure:-
Formulas are copied in
Cells L3 to L250
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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
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Step 49: Now mark J2 to M21 i.e. OPENING BAL to CLOSING BAL
Data from J2 to
M21 Is Marked
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Step 50: Right Click the Mouse on MARKED DATA and select FORMAT CELLS
Click on
Format Cells
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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
OK
SelectCURRENCY
Change SYMBOL
from NONE to ₹
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Step 52: After we Click OK , New Formatted Cells will be:-
₹ Sign is placed in
all the Cells
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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
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Step 54: Select ALL BORDERS in Bottom Borders.
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Step 55: Table is Created Now
TABLEwith Borders
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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
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Loan Sheet is Done and the Final Output is:-