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Start Microsoft Excel and create the  following labels:

  • Enter the Labels

    • In Cell A1 type: Present Value

    • In Cell A2 type: Interest

    • In Cell A3 type: Months

    • In Cell A4 type: Payment

  • Select Column A and format the labels big, bold, and centered

Add the data

  A B C D
1 Present Value $20,000    
2 Interest 6.5%    
3 Months 48    
4 Payment      

  • Select Cell B1 and format for Currency

  • Select Cell B2 and format for Percent

    • Note: the numbers are aligned with two decimal places

    • Use the toolbar to increase and decrease the decimal places

more on the next page

Level 10: Calculate a Car Payment, part one