![]() This adds an absolute reference to cell D2. Type a forward slash / for division and then click D2.Click cell E6 in the Budget Summary worksheet.The following steps explain how to add these formulas: These formulas require the use of absolute references, which we covered earlier in this chapter. We can now add a few formulas that calculate both the spending rate and the savings rate as a percentage of net income. Figure 9.3.3 Formulas Added to Show Income Is Greater Than Expenses Overall, having your income exceed your total expenses is a good thing because it allows you to save money for future spending needs or unexpected events. The output for the formula in cell D7 shows that the net income exceeds total planned expenses by $1,942. This formula produces an output of $1,942, indicating our income is greater than our total expenses.įigure 9.3.3 shows the results of the formulas that were added to the Budget Summary worksheet. Type a minus sign − and then click cell D6.You will enter a formula to calculate Net Change in Cash in this cell. Click cell D7 on the Budget Summary worksheet.The total for all annual expenses now appears on the worksheet. Type a closing parenthesis ) and press the ENTER key on your keyboard or simply press the ENTER key to close the function.Type the function name SUM followed by an open parenthesis (.Click cell D6 in the Budget Summary worksheet.The following steps explain how this is accomplished: We can now add other formulas and functions to the Budget Summary worksheet that can calculate the difference between the total spend dollars vs. Figure 9.3.2 Formulas Referencing Cells in Mortgage Payments and Car Lease Payments Worksheets The value of multiplying the monthly lease payments by 12 is now displayed on the Budget Summary worksheet.įigure 9.3.2 below shows the results of creating formulas that reference cell locations in the Mortgage Payments and Car Lease Payments worksheets. This multiplies the monthly lease payments by 12 to calculate the total payments required for the year. Click cell B6 in the Car Lease Payments worksheet.Click the Car Lease Payments worksheet tab.Click cell C5 on the Budget Summary worksheet. ![]() The value of multiplying the monthly mortgage payments by 12 is now displayed on the Budget Summary worksheet. The formula in the formula bar should read: =’Mortgage Payments’!B5*12 This multiplies the monthly payments by 12 to calculate the total payments required for the year.
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