WGU C268 EXAM PRACTICE COMPREHENSIVE
QUESTIONS AND VERIFIED ANSWERS GRADE A+
Copy the principal amount calculation down to complete the "principal" column of the amortization
table.
Copy and paste down.
Calculate, in cell F20, the balance for period 1. The balance is the difference between the balance for
period 0 (cell F19) and the principal amount for period 1 (cell E20). This formula is reusable. The
balance is always calculated as the difference between the balance from the previous period and the
principal amount for the current period.
=F19-E20
Copy the balance amount calculation down to complete the balance column of the amortization table.
Copy and paste down.
Calculate the payment amount for the loan in cell C15. Reference the cells containing the appropriate
loan information as the arguments for the function you use. Cells C20-C67 in the "Payment" column
are populated with the payment amount from cell C15.
=PMT(C13/12,C12,C11)
Calculate, in cell D20, the interest amount for period 1 by multiplying the balance in period 0 (cell F19)
by the loan interest rate (cell C13) divided by 12. Dividing the interest rate by 12 results in the
monthly interest rate. This formula is reusable. The interest for a given period is always the monthly
interest rate times the balance from the previous period.
f
=F19*C$13/12
Copy the Interest amount calcualtion down to complete the "interest" column of the amortization
table.
Paste down column .
Calculate, in cell E20, the principal amount for period 1. The principal amount is the difference
between the payment amount (cell C20) and the interest amount (cell D20) for period 1. Construct
your formula in such a way that it can be reused to complete the "principal" column of the
amortization table.
=C20-D20
Calculate, in cell G12, the total amount paid by multiplying the payment amount (cell C15) by the term
of the loan (cell C12).
=C15*C12
, Calculate the total interest paid in cell G13. The total interest paid is the sum of all interest paid in the
"Interest" column of the amortization table.
=SUM(D20:D67)
Check to see if the total interest calculation in the amortization table is correct. The total interest paid
is also equal to the difference between the total amount paid over the course of the loan and the
original loan amount. Insert a formula into cell G14 to calculate the difference between the total
amount paid and the original loan amount. Notice the negative sign associated with the original loan
amount. This value should equal the total interest calculated using the amortization table.
=G12+C11
Assume you have made the first 36 payments on your loan. You want to trade the car in for a new car.
You believe that you can sell your car for $4000. Will this cover the balance remaining on the car in
period 36? Answer either "Yes" or "No" in cell G15 from the drop-down menu.
No
Use the HLOOKUP function to complete the "Hourly Wage" column of table 1. Use the "Employee"
column of table 1 as the lookup_value and the "Employee Wage Information" above table 1 as your
reference table.
=HLOOKUP(D16, E$11:H$12, 2,False)
Use the AND function to complete the "Time Bonus?" column of table 1. An employee earns a time
bonus if the project's "Hours Worked" are fewer than the "Estimated Hours" and if the work "Quality"
is greater than 1.
=AND(E16<C16,H16>1)
Use the OR function to complete the "Outcome Bonus?" column of table 1. An employee earns an
outcome bonus if the difficulty of a job is greater than 3 or if the quality of their work is equal to 3.
=OR(G16>3,H16=3)
Use the IF function to complete the "Time Bonus $" column of table 1. If an employee earns a time
bonus (i.e., the corresponding cell in the "Time Bonus?" column is TRUE), then "Time Bonus $" is the
"Job Pay" for that project times the bonus percentage in cell M11. Otherwise "Time Bonus $" is 0.
=IF(I16=True, K16*M$11,0)
Use the IF function to complete the "Outcome Bonus $" column of table 1. If an employee earns an
outcome bonus (i.e., the corresponding cell in the "Outcome Bonus?" column is TRUE), then
"Outcome Bonus $" is the "Job Pay" for that project times the outcome bonus percentage in cell M12;
otherwise, "Outcome Bonus $" is 0.
=IF(J16=True, K16*M$12,0)
Use the IF function to complete the "Comments" column of table 1. Display "Good Job" if both the
"Hours Worked" are less than or equal to the "Estimated Hours" for a project and the assessed
QUESTIONS AND VERIFIED ANSWERS GRADE A+
Copy the principal amount calculation down to complete the "principal" column of the amortization
table.
Copy and paste down.
Calculate, in cell F20, the balance for period 1. The balance is the difference between the balance for
period 0 (cell F19) and the principal amount for period 1 (cell E20). This formula is reusable. The
balance is always calculated as the difference between the balance from the previous period and the
principal amount for the current period.
=F19-E20
Copy the balance amount calculation down to complete the balance column of the amortization table.
Copy and paste down.
Calculate the payment amount for the loan in cell C15. Reference the cells containing the appropriate
loan information as the arguments for the function you use. Cells C20-C67 in the "Payment" column
are populated with the payment amount from cell C15.
=PMT(C13/12,C12,C11)
Calculate, in cell D20, the interest amount for period 1 by multiplying the balance in period 0 (cell F19)
by the loan interest rate (cell C13) divided by 12. Dividing the interest rate by 12 results in the
monthly interest rate. This formula is reusable. The interest for a given period is always the monthly
interest rate times the balance from the previous period.
f
=F19*C$13/12
Copy the Interest amount calcualtion down to complete the "interest" column of the amortization
table.
Paste down column .
Calculate, in cell E20, the principal amount for period 1. The principal amount is the difference
between the payment amount (cell C20) and the interest amount (cell D20) for period 1. Construct
your formula in such a way that it can be reused to complete the "principal" column of the
amortization table.
=C20-D20
Calculate, in cell G12, the total amount paid by multiplying the payment amount (cell C15) by the term
of the loan (cell C12).
=C15*C12
, Calculate the total interest paid in cell G13. The total interest paid is the sum of all interest paid in the
"Interest" column of the amortization table.
=SUM(D20:D67)
Check to see if the total interest calculation in the amortization table is correct. The total interest paid
is also equal to the difference between the total amount paid over the course of the loan and the
original loan amount. Insert a formula into cell G14 to calculate the difference between the total
amount paid and the original loan amount. Notice the negative sign associated with the original loan
amount. This value should equal the total interest calculated using the amortization table.
=G12+C11
Assume you have made the first 36 payments on your loan. You want to trade the car in for a new car.
You believe that you can sell your car for $4000. Will this cover the balance remaining on the car in
period 36? Answer either "Yes" or "No" in cell G15 from the drop-down menu.
No
Use the HLOOKUP function to complete the "Hourly Wage" column of table 1. Use the "Employee"
column of table 1 as the lookup_value and the "Employee Wage Information" above table 1 as your
reference table.
=HLOOKUP(D16, E$11:H$12, 2,False)
Use the AND function to complete the "Time Bonus?" column of table 1. An employee earns a time
bonus if the project's "Hours Worked" are fewer than the "Estimated Hours" and if the work "Quality"
is greater than 1.
=AND(E16<C16,H16>1)
Use the OR function to complete the "Outcome Bonus?" column of table 1. An employee earns an
outcome bonus if the difficulty of a job is greater than 3 or if the quality of their work is equal to 3.
=OR(G16>3,H16=3)
Use the IF function to complete the "Time Bonus $" column of table 1. If an employee earns a time
bonus (i.e., the corresponding cell in the "Time Bonus?" column is TRUE), then "Time Bonus $" is the
"Job Pay" for that project times the bonus percentage in cell M11. Otherwise "Time Bonus $" is 0.
=IF(I16=True, K16*M$11,0)
Use the IF function to complete the "Outcome Bonus $" column of table 1. If an employee earns an
outcome bonus (i.e., the corresponding cell in the "Outcome Bonus?" column is TRUE), then
"Outcome Bonus $" is the "Job Pay" for that project times the outcome bonus percentage in cell M12;
otherwise, "Outcome Bonus $" is 0.
=IF(J16=True, K16*M$12,0)
Use the IF function to complete the "Comments" column of table 1. Display "Good Job" if both the
"Hours Worked" are less than or equal to the "Estimated Hours" for a project and the assessed
