WGU - C268 Spreadsheets - Useful formula guide 2022
1.1. 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 (answer) PMT=(c13/12,c12,c11)
Payment
2.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 F19 time absolute values C13 divided by 12.
3.Copy the interest amount calculation down to complete the "Interest" column of the amortization table. [2 points]: Drag D19 down to D67 to complete column
4.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
5.Copy the principal amount calculation down to complete the "principal"
column of the amortization table (answer) Drag E20 down to E67 to complete column
6.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) =C20-
D20
7.Copy the balance amount calculation down to complete the "Balance" column of the amortization table (answer) drag F20 down to F67 to complete column
8.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
9.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)
Add D20 range through D67 .To verify that the total interest calculation from the amortization table is correct, calculate the total interest paid in cell G14. This is the difference
between the Total Amount Paid over the course of the loan and the original
Loan Amount. Notice the negative sign associated with the original Loan Amount (answer) =G12--C11
two minus cancel out the minus from C11
11.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
G36 = 5,193.87 $4,000 is not enough
12.Use the HLOOKUP function to complete the "Hourly Wage" column of table 1. Use the "Employee" from 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, 0)
horizontal lookup (Jim, absolute value E and 11 through absolute value
H and 12, 2nd column, Exact)
13.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)
And used when all logical functions are true. (E16 greater than C16,
AND H16 greater than 1)
14. 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)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LectJoshua. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
