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GO16_XL_CH04_GRADER_4E_AS – Joan’s Flowers 1.3
In this project, you will use a PMT function to calculate a value and then use it in a two-variable data table. You will create named ranges and use them in formulas.
Start Excel. Download, save, and open the workbook named go16_xl_ch04_grader_4e_as.xlsx.
In cell B5, insert the PMT function using the data from the range B2:B4—be sure to divide the interest rate by 12, multiply the years by 12, and display the payment as a positive number.
Use Goal Seek to change the amount of the loan so that the payment is $4,200 (4200).
In cell A1, apply the Title cell style. In A7, type Option #1 Reduce the Loan and then Copy the format from cell A1 to cell A7. Copy the range A2:B5, and then Paste the Values & Number Formatting to cell A8. In cell B2, type 425000 to restore the original loan amount.
Use Goal Seek to change the period of the loan so that the payment is $4,200.
In A13, type Option #2 Increase Years. Format the cell the same as cell A7. Copy the range A2:B5, and then Paste the Values & Number Formatting to cell A14. Display the value in B15 with two decimal places, and then in cell B3, type 10 to restore the original value.
On the Payment Table worksheet, in the range A2:B4, enter the following row titles and data. Format the Amount of Loan as Currency with 0 decimals. Format the Interest as Percentage with 2 decimals.
Amount of Loan $425,000
Period (months) 120
Interest rate (per year) 5.25%
In cell C8, type 60—the number of months in a 5-year loan. In D8, type 120—the number of months in a 10-year loan. Fill the series through cell H8. Apply Bold and center the range C8:H8.
In the range B9:B16, enter varying interest rates in decrements of .5% beginning with 7.0% and ending with 3.5%. If necessary format all the interest rates with two decimal places, and then bold and center the range.
In cell B8, enter a PMT function using the information in cells B2:B4. Be sure that you convert the interest rate to a monthly rate and that the result displays as a positive number.
Create a Data Table in the range B8:H16 using the information in cells B2:B4 in which the Row input cell is the Period and the Column input cell is the Interest rate.
Copy the format from cell B8 to the results in the data table. Format cell D16 with the Note cell style as the payment option that is closest to $4,200 per month.
Display the Advertising Costs by Quarter worksheet, and then apply appropriate Currency  cell style to the range B6:E6 and to the range B18:E18. Apply the Comma  cell style to the range B7:E17, and then apply the Total cell style to the range B18:E18.
Name the following ranges: B6:E9 Newspaper_Costs; B10:E14 Digital_Costs; B15:E16 Magazine_Costs; B17:E17 Billboard_Costs.
Insert a new row 15. In cell A15, type Designer Podcasts In cell B15, type 1250 In cell C15, type 1525 In cell D15, type 1266 In cell E15, type 1604.
Display the Name Manager, click Digital_Costs, and then change cell E14 to E15. Select the Billboard_Costs, and Edit the name to Signage_Costs.
Display the Annual Advertising Costs sheet. Starting in cell B5, use the named ranges to sum the values for each of the costs and then sum all the costs in cell B9. Apply Currency , Comma , and Total cell styles to the appropriate cells.
In the sheet tab row, right-click any sheet tab, and the click Select All Sheets. Display the Page Setup dialog box, click the Margins tab, and then under Center on page, click Horizontally. Ungroup the sheets, display the Hothouse Purchase sheet, and then set its Orientation to Landscape. Document properties should include the tags payment table, advertising costs.
Ensure that the worksheets are correctly named and placed in the following order in the workbook: Hothouse Purchase, Payment Table, Advertising Costs by Quarter, Annual Advertising Costs. Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed.