As will become evident, I am new at this. But I will try to be brief and to the point. In short: we have designed a life insurance policy whose premiums are paid by loans. The accrued annual loans + the accrued interest is paid ONLY at the death of the borrower. I am [obviously] not an Excel knowledable person. Some key points are... and then my question...
1) I have a Master (unprotected) Excel workbook (i.e., xls) by one of our employees who is no longer with us. It shows a payment ("PMT") that must be paid every year (or for just 5, 10 years);
2) the PMT is made by taking out a loan at whatever interest rate I wish to use (interest accrues & is pegged annually, and may stay the same until the borrower's age 100. I could also change every 5 years, etc., BUT...for this question assume the int. rate will be "x" from age 60 to age 100 and not change;
3) the loan + accrued interest is to be paid ONLY at the death of the borrower.
I want to change the current interest rate shown to another number. It is currently 6%. How can I do that AND have it change every other page that uses that calculation?
I understand I can give my personal e-mail address and will so advise it is: email@example.com. I am also happy to call someone that could help me, but I guess that is frowned on...
Thank you to whomever answers... Regards, VeroSFO