Nadia wants to calculate the total interest, which is the total amount of the payments minus the loan amount. In cell F6, enter a FORMULA WITHOUT USING A FUNCTION that multiplies 12 by the Term and the Monthly_Payment, and then subtracts the Loan_Amount to determine the total interest.

Create a Formula

Loan Payment Calculator 4 $3,937.24 Date Loan Amount Rate Term 4/3/21 $327,000.00 Monthly Payment 7.825% Total Interest 10 Total Cost Varying Interest Rate Schedule $472,468.71 O 00 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Rate Monthly Payment $3,937.24 7.725% $3,920.06 7.750% $3,924.35 7.775% $3,928.64 7.800% $3,932.94 7.825% $3,937.24 7.850% $3,941.54 7.875% $3,945.85 7.900% $3,950.15 7.925% $3,954.47 7.950% $3,958.78 7.975% $3,963.09 8.000% $3,967.41 8.025% $3,971.73 8.050% $3,976.06 8.075% $3,980.38 Total Interest $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 $145,468.71 Total Cost $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 $472,468.71 25 26