WGU C268 Study Guide for EXCEL PA Exam 83
Questions with Verified Answers
=PMT (C13/12, C12, C11) - CORRECT ANSWER 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.
=F19*C$13/12 - CORRECT ANSWER 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
Paste down column . - CORRECT ANSWER Copy the Interest amount calcualtion
down to complete the "interest" column of the amortization table.
=C20-D20 - CORRECT ANSWER 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.
Copy and paste down. - CORRECT ANSWER Copy the principal amount calculation
down to complete the "principal" column of the amortization table.
,=F19-E20 - CORRECT ANSWER 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.
Copy and paste down. - CORRECT ANSWER Copy the balance amount calculation
down to complete the balance column of the amortization table.
=C15*C12 - CORRECT ANSWER Calculate, in cell G12, the total amount paid by
multiplying the payment amount (cell C15) by the term of the loan (cell C12).
=SUM(D20:D67) - CORRECT ANSWER 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.
=G12+C11 - CORRECT ANSWER 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.
No - CORRECT ANSWER 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.
, =HLOOKUP(D16, E$11:H$12, 2,False) - CORRECT ANSWER 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.
=AND(E16<C16,H16>1) - CORRECT ANSWER 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.
=OR(G16>3,H16=3) - CORRECT ANSWER 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.
=IF(I16=True, K16*M$11,0) - CORRECT ANSWER 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(J16=True, K16*M$12,0) - CORRECT ANSWER 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(AND(E16<=C16, H16>1)
Questions with Verified Answers
=PMT (C13/12, C12, C11) - CORRECT ANSWER 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.
=F19*C$13/12 - CORRECT ANSWER 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
Paste down column . - CORRECT ANSWER Copy the Interest amount calcualtion
down to complete the "interest" column of the amortization table.
=C20-D20 - CORRECT ANSWER 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.
Copy and paste down. - CORRECT ANSWER Copy the principal amount calculation
down to complete the "principal" column of the amortization table.
,=F19-E20 - CORRECT ANSWER 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.
Copy and paste down. - CORRECT ANSWER Copy the balance amount calculation
down to complete the balance column of the amortization table.
=C15*C12 - CORRECT ANSWER Calculate, in cell G12, the total amount paid by
multiplying the payment amount (cell C15) by the term of the loan (cell C12).
=SUM(D20:D67) - CORRECT ANSWER 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.
=G12+C11 - CORRECT ANSWER 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.
No - CORRECT ANSWER 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.
, =HLOOKUP(D16, E$11:H$12, 2,False) - CORRECT ANSWER 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.
=AND(E16<C16,H16>1) - CORRECT ANSWER 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.
=OR(G16>3,H16=3) - CORRECT ANSWER 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.
=IF(I16=True, K16*M$11,0) - CORRECT ANSWER 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(J16=True, K16*M$12,0) - CORRECT ANSWER 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(AND(E16<=C16, H16>1)
