Excel formula for loan calculation

  • Hi,

    I'm new to this forum but I do have a situation.

    SO we have this info:

    ARM Loan Information (Cell B)Cell CCell D
    Type of Loan:
    Home ValueUFMIP
    Enter Loan Amount Here:Loan Amount + UFMIP
    Term (years)78% Equity
    Starting interest rate
    Current rate after fixed term finishes
    Extra Cost E=

    And the instructions are:

    Use an Excel formula to check if C2 cell is a 'FHA' Loan. Then execute the following steps:

    Could anyone please help me solve this task?

    Thank you kindly in advance.

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