Modifying closing balances for a lump sum

Now that the interest rate and payments have been added manually, you can add a lump sum payment. In this example, you will add a $1,000 lump sum payment on December 31, 2018. The lump sum should be stated as a positive number.

Once you add this example, you will need to modify the closing balances - these do not currently reflect the lump sum payment! After the closing balances are added, the loan should be paid off 4 periods early!

Please also note that the payment formula has been modified; we will work through this in a later exercise!