28.
Calculate the cumulative principal payments as follows:
a. In cell B17, enter a formula using the CUMPRINC function to calculate the
cumulative principal
paid for Year 1 (payment 1 in cell B14 through payment 12 in
cell B15). Use 0 as
the type argument in your formula because payments are
made at the end of the period
.
b.
C.
d.
Use absolute references for the rate, nper, and pv arguments, which are listed in
the range C4:C10.
Use relative references for the start and end arguments.
Fill the range C17:K17 with the formula in cell B17 to calculate the principal paid in
Years 2-10 and the total
principal.