AND CALCULATIONS MODULE QUESTIONS
SOLUTIONS STRUCTURED SCRIPT
◉ 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.
Answer: =F19*$C$13/12
◉ 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.
Answer: =C20-D20
◉ 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.
Answer: =F19-E20
◉ Calculate, in cell G12, the total amount paid by multiplying the
payment amount (cell C15) by the term of the loan (cell C12).
Answer: =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.
Answer: =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.
Answer: =G12-ABS(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 $4000. Will this cover the balance remaining on the car
in period 36? Answer either "Yes" or "No" in cell G15 from the drop-
down menu.
Answer: No
◉ Use the HLOOKUP function to complete the "Hourly Wage"
column of table 1. Use the "Employee" column of table 1 as the
lookup_value and the "Employee Wage Information" above table 1 as
your reference table.
Answer: =HLOOKUP(D16,$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.
Answer: =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.
Answer: =OR(G16>3,H16=3)