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Instructions: Start Excel. You are to determine how long it will take you to pay back a loan. You decide to download and use one of the Excel templates to create your worksheet.
Perform the following tasks:
1. Click New in Backstage view and then search for and click a template that can calculate loans for an item you choose, such as a vehicle, mortgage, or general loan.
2. Enter fictitious (but realistic) information for a loan, including loan number, lender, loan amount, annual interest rate, beginning date, and length (in years). If the template you chose does not include a place for this information, add the information in an appropriate location. Search the web to examine current interest rates and typical loan durations.
3. Save the file as SC_EX_1_LoanCalculator, print the worksheet, and submit the assignment in the format specified by your instructor and then exit Excel.
4. Which template would you use if you wanted to plan and keep track of a budget for a wedding?
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