Question

In cell E2, reference the cell that calculates the monthly payment amount for the loan. Apply a custom format to cell E2 so that the cell appears to be the monthly payment.

a) E2 = MonthlyPaymentCell; Format: Custom Monthly Payment
b) E2 = LoanAmountCell; Format: Currency
c) E2 = InterestRateCell; Format: Percentage
d) E2 = TermCell; Format: Number of Months

Answer 1

To reference the cell calculating the monthly payment amount and apply a custom format to it, use option a) E2 = MonthlyPaymentCell; Format: Custom Monthly Payment.

Step-by-step explanation:

To reference the cell that calculates the monthly payment amount for the loan and apply a custom format to cell E2, you should use option a) E2 = MonthlyPaymentCell; Format: Custom Monthly Payment.

In this case, the cell E2 will display the monthly payment amount for the loan in the desired custom format. Make sure to replace 'MonthlyPaymentCell' with the actual cell reference that contains the monthly payment calculation.