decoding tough formulas
Take a close look at the formulas the broker uses in her mortgage model. How do they work? Write your answers in the blanks below. You will need to use both formula auditing and the help screens to decode these formulas. 1
Use what you’ve learned so far to figure out how the “Tax savings” formula works. Tax savings =CUMIPMT($E$15/12,$E$16*12,$E$14,1,A20*12,0)*$B$2
214 Chapter 8
This ones’s a bear!