MAT-144-RS-Online-MA2_Excel_20240111_Finished
.xlsx
keyboard_arrow_up
School
Brigham Young University, Idaho *
*We aren’t endorsed by this school
Course
220
Subject
Economics
Date
May 7, 2024
Type
xlsx
Pages
37
Uploaded by ChefTurtle10390 on coursehero.com
Rubric Category
19%
19%
(% weighting for assignment)
Income and Projection (Calculations)
Student Loans (Calculations)
19%
19%
Credit Cards (Calculations)
Annual Budget (Calculations)
Major Assignment 2 Grading Sheet (01/10/2024)
Requirements for full credit
1
6
4
6
6
You have explicitly formatted all entries as directed in the instructions.
3
Subtotals
26
1
5
2
8
8
You have explicitly formatted all entries as directed in the instructions.
3
Subtotals
27
Did you meet the requirements?
Possible Points
You have entered your full name in the field provided. (Note that entering your name on this sheet is required in order to complete the assignment.) (1 point)
You have completed the CPI table appropriately based on the given starting month and year.
You have correctly calculated the slope and y-intercept of the best-fit line for your CPI values using the appropriate Excel functions with appropriate cell references. (2 points each)
Your projection year entry (1 point), projected CPI formula (3 points), and inflation rate formula (2 points) are correct and use appropriate cell references.
You have used an Excel formula to bring your Current Income value forward (1 point), and your 5-year Income Projection (3 points) and Projected Monthly Income (2 points) formulas are correct and use appropriate cell references.
You have correctly input your interest rate from the Mortgage Rates tab. (1 point)
For the Unsubsidized Loan, you have correctly entered the number of years interest accrues while in school (1 point), and your formulas for the additional interest and the new total principal for the loan are correct (2 points each).
Your number of payments per year and number of years entries are correct (1 point each).
For the Subsidized Loan, you have correctly calculated the Monthly Loan Payment (4 points), Total Paid (2 points), and Interest Paid (2 points). For all entries, use the provided formulas. Do not use the Excel built-in =FV() or =PMT(). For the Unsubsidized Loan, you have correctly calculated the Monthly Loan Payment (4 points), Total Paid (2 points), and Interest Paid (2 points).
5
24
9
4
Subtotals
42
16
5
5
3
5
6
You have explicitly formatted your cells as directed in the instructions. 4
Subtotals
44
Rubric Category
Rubric Score
Income and Projection (Calculations)
1
Student Loans (Calculations)
1
You have correctly entered the APR, Starting Balance, Payments per Year, Percentage of the Current Balance, and Fixed Minimum entries based on the values provided in the description in cell A3 (1 point each).
For your Current Balance, Payment, Balance After Payment, and Interest entries, you have provided Excel formulas with appropriate cell references for all inputs.
For the Number of Years to Pay Off, Total Amount Paid, and Total Interest Paid, you have provided Excel functions with appropriate cell references (3 points each).
You have explicitly formatted all entries as discussed in the instructions.
For the Housing through Other rows, you have completed the Frequency Per Year entries (4 points) and Cost entries (4 points), and your Total Annual Cost entries (8 points) are Excel formulas using appropriate cell references.
For the Subsidized Monthly Loan row, you have correctly entered the Frequency (1 point), brought forward the loan payment amount from the Student Loans worksheet using a cell reference (2 points), and provided an Excel formula for the Total Annual Cost entry (2 points).
For the Credit Card Monthly Payment row, you have correctly entered the Frequency (1 point), brought forward the first credit card payment amount from the Credit Cards worksheet using an Excel formula (2 points), and provided an Excel formula for the Total Annual Cost entry (2 points).
Your Total Annual Budget correctly adds up the costs for Housing through the Credit Card payment, using the Excel SUM() function.
You have correctly calculated the Projected Total in 5 Years (3 points) and Remaining Total (2 points), using Excel formulas with appropriate cell references.
You have included a Pie Chart for your Total Annual Cost entries, using the Budget Category entries as a legend; updating the chart title; and adding percentage labels.
Credit Cards (Calculations)
1
Annual Budget (Calculations)
1
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
You have just been hired as a loan officer at a national bank. Your first assignment is to calculate the amount of the periodic payment (in $) required to amortize (pay off) the following loan being considered by the bank (use Table 12-2). (Round your answer to the nearest cent.)
LoanPayment
PaymentPeriod
Term ofLoan (years)
NominalRate (%)
Present Value(Amount of Loan)
$
every month
1.75
6
$30,000
arrow_forward
Subject - advanced math
Frank's loan pay off is to be made in two installments: $2500 in a year, and $3500 in 3 ½year. After talking to his loan officer, it was decided that he could pay both installments in 20months. How much would he pay if his loan is processed at 7 ¼ simple interest. Draw a timelineto illustrate your solution.
arrow_forward
If you borrowed $30,000 at 25% annual interest. You agreed to repay the loan with five equal annual payments.
How much of the total amount repaid is interest?
How much of the third annual payment is interest, and how much principal is there?
If you decided to pay off your loan after the third payment, how much will you pay?
(Please Include Equations used and cashflow diagram)
(Please don't use excel)
arrow_forward
For the following questions, choose the letter of the best answer (showing work):
2.1. How many months would you have to put $500 per month into an account that earns 4% monthlyin order to accumulate $6,000?(a) 10 months(b) 65 months(c) 15 months(d) 5 months
2.2. A machine will need to be replaced 10 years from today for $10,000. How much must be depositednow into an account that earns 5% per year to cover the replacement cost?(a) $1,486(b) $6,139(c) $10,000(d) $4,810
2.3. An effective rate of 10% per quarter is closest to what effective rate per year?(a) 40.00%(b) 46.41%(c) 10.38%(d) 16.99%
2.4. If the internal rate of return (IRR) of Alternative A is 30%, the IRR of Alternative B is 25%, andMARR is 20%, which of the following is correct?(a) Not enough information is given to determine which alternative is preferred(b) Alternative A is preferred over Alternative B(c) Alternative B is preferred over Alternative A(d) Neither Alternative A nor Alternative B is acceptable
2.5.…
arrow_forward
The case of transaction exposure is described as follows. Choose the correct answer in the parenthesis in the description of the case. The choice is in bold letters.
My company sold a product to a German co., and sales department signed a contract to receive Euro 10,000 3 month later, A/R of Euro 10,000.
The sales contract is delivered to my desk. I, a treasurer, am wondering how much USD my co. will get from Euro 10,000 3 months from now.
The currency market is in turmoil, I will get more USD when USD weakens against EUR in the next 3 months.
Market anticipates strong USD. However, if USD strengthens more than market expects, I will get (more /less) USD from sales contract of EUR 10,000. Are there any possibility to lock in my USD receipt to a certain level, or at minimum. In that way, my USD receipt will not get any lower even though USD appreciates more than the rate I can contract (buy EURO/sell EURO) now.
How and what kind of contracts are available now to protect/hedge…
arrow_forward
As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI (in $), using this table and the monthly PITI (in $) for the mortgage. (Round dollars to the nearest cent.)
Amount Interest
Financed
Rate
$220,000 7.50%
Term
of Loan
(years)
25
$
Monthly
PI
Annual
Property
Tax
$6,543
Annual
Insurance
$2,126
$
Monthly
PITI
arrow_forward
B
Spreadsheet
A bank's mortgage department must process the following six jobs to maximize client satisfaction.
Processing Time (days)
14
12
16
11
18
22
Mortgage
1
2
3
4
5
6
55
17
80
22
39
60
What sequencing rule should you use? For the rule you selected, find the best sequence using the Excel Sequencing template.
The most appropriate sequence rule is -Select-
The best sequence is -Select- ✔ -Select- ✓
-Select- ✓
Due Date
-Select- ✓ -Select- ✔
-Select- ✓
arrow_forward
You are the manager of the Mighty Fine mutual fund. The following table reflects the activity of the fund during the last
quarter. The fund started the quarter on January 1 with a balance of $100 million.
Mighty Fine Mutual Pund
Monthly Data (measured at end of month)
February
-4.3
6.20
March
January
5.5
Net inflows ($ million)
HPR ()
-4.30
1.80
Required:
a. Calculate the quarterly arithmetic average return on the fund. (Do not round intermediate calculations. Round your
answer to 2 decimal places.)
Arithmetic average
1.23 %
b. Calculate the quarterly geometric (time-weighted) average return on the fund. (Do not round intermediate
calculations. Round your answer to 2 decimal places.)
Geometric average
1.14 %
c. Calculate the quarterly dollar-weighted average return on the fund. (Do not round intermediate calculations. Round
your answer to 2 decimal places.)
Dollar-weighted average return
arrow_forward
Using Table 11-1, compute the amount of compound interest (in $) earned in 1 year and the annual percentage yield (APY) for the investment. (Round your answers to two decimal places.)
Principal
NominalRate (%)
InterestCompounded
Compound InterestEarned in 1 Year
Annual PercentageYield (APY)
$33,000
12
monthly
$
%
arrow_forward
A loan of $15,000 requires monthly payment of $477 over a 36-month
period of time
a) What is the nominal interest rate? (
)
b) What is the effective interest rate? (
c) Determine the amount of unpaid loan after 20 months?
arrow_forward
(7) What is the definition of Annual Percentage Rate (‘APR’) for a loan? Why is it typicallydifferent than the stated interest rate?
arrow_forward
A woman borrows $1000 at the beginning of each of her 4 years in college, signing a note to pay off the debt with interest rate of 2.5% in 5 equal annual installments, the first installment to be paid 5 years after the first $1000 was borrowed. Find the amount of each installment
Answer : $916.16
Topic: Engineering Economics
arrow_forward
1.Find the present value of $20800 in 4 months at 12% simple interest.
a)$200
b)$200,000
c)$2000
d)$20000
2.The simple interest on a $6500 loan at 15% for 9 months is.
a)$731.25
b)$7312.50
c)$73.13
d)$2925
3.
If we deposit $5000 in an account that pays 9% per year. Find the amount of simple interest earned during 8 months.
a)$3000
b)$300
c)$360
d)$3600
4.The simple interest charged on a loan amount of $8500 for 2 years was $1275. What rate of interest was charged
a)22.5%
b)3.75%
c)15%
d)7.5%
5.What rate of simple interest will make a principal double itself in 6 years.
a)16.67%
b)8.33%
c)33.33%
d)4.16%
6.Find the present value of $20800 in 4 months at 12% simple interest.
a)$200
b)$200,000
c)$2000
d)$20000
arrow_forward
Give detailed solutiin
arrow_forward
provide analysis & computation
arrow_forward
You can afford a $900 per month mortgage payment. You've found a 30 year loan at 6.5% interest.
a) How big of a loan can you afford? (Round to the nearest cent, as needed.)
b) How much total money will you pay the loan company? (Round to the nearest cent, as needed.)
c) How much of that money is interest? (Round to the nearest cent, as needed.)
arrow_forward
Subject: Engineering economics
Topic: Deferred annuity
Question:
Find the present worth of a series of equal quarterly payments of 750.00 for 18 years with the first payment starting three months from now . The applied interest rates are: 2% compounded quarterly for the first five years, 2% compounded quarterly for the next five years, and 2 % compounded quarterly for the remaining eight years .
P.S USE MANUAL SOLVE THANKS!
arrow_forward
The problem describes a debt to be amortized. (Round your answers to the nearest cent.)
Sean Lee purchases $40,000 worth of supplies for his restaurant by making a $2,000 down payment and amortizing the remaining cost with quarterly payments over the next 7 years. The interest rate on the debt is 16% compounded quarterly.
(a)
Find the size of each payment.
$
(b)
Find the total amount paid for the purchase.
$
(c)
Find the total interest paid over the life of the loan.
$
arrow_forward
Ivana Vukadinovic (Presenting)
In addition, Red Rock Construction owes Abco Inc. $824, due to be paid six
months from now. Suppose Red Rock Construction offers to pay the debt today.
How much should Red Rock Construction pay Abco Inc. if money is worth 6%?
Since Abco Inc. could invest the payment at 6%, the payment should be the sum
of money that will grow to $824 in six months earning 6% p.a. interest. By
definition, this amount of money is the present value of the $824. The present
value represents today's dated value of the $824 and is found using Formula
arrow_forward
Use the following amortization chart:
Selling price of home
Down payment
Principal (loan)
Rate of interest
Years
Payment per $1,000
Monthly mortgage payment
$ 90,000
$ 5,000
$ 85,000
512%512%
30
$ 5.67789
$ 482.62
What is the total cost of interest?
arrow_forward
16. Mr John Week borrowed $ 2,400 at 1% per month payable in 24 equal end-of-the month payments. How much money of the loan remains unpaid immediately after he has paid the 12th payment?
arrow_forward
· Paper currency is
(a) Convertible
(b) Partially convertible
(c) Inconvertible
(d) Both convertible and inconvertible
arrow_forward
Prepare a flow chart for a typical family of 4 (3 drivers), taking a two-week (Monday is 1st-14th is a Sunday) vacation driving from New York to Orlando in August. Your return to workday is 15th of the month which is a Monday. Discuss areas of concerned revealed by the flow chart.
arrow_forward
Which of the following is a cash outflow? Current year Last year
Question 6 options:
bank loan 2,000 1,000
mortgage payable 30,000 25,000
car 30,000 5,000
house 140,000 150,000
arrow_forward
Steelgrave Financing offers payday loans. The firm charges a $10 interest fee for a one week period on a $250 loan what are the nominal and effective annual interst rates on the loan?
arrow_forward
If you borrowed $30,000 at 25% annual interest. You agreed to repay the loan with five equal annual payments.
How much of the total amount repaid is interest?
How much of the third annual payment is interest, and how much principal is there?
If you decided to pay off your loan after the third payment, how much will you pay?
(Please Include Equations used and cashflow diagram)
arrow_forward
Please include a non-excel cash flow
arrow_forward
ou decided to go and apply for a credit card at your local financial institution.The Prime rate currently announced on June 1 was 3.25%. You have goodcredit history and a FICO score of 700. The lowest rate that they can offer toindividuals is a 18.99% APR for a credit card that gives cashback on purchasesand rewards. You were offered 21.99% APR for the credit card. How did thelender determine or calculate what rate they should offer you?
arrow_forward
You need to borrow $250,000 right now and can repay the loan in 9 months. Since you want to pay as little interest as possible,
which type of loan should you take?
A
B
a discounted loan at 8% per annum
a simple interest loan at 7% per annum
arrow_forward
Please answer parts D, E , & F per 3 part guidline.
arrow_forward
Ans for part D
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education
Related Questions
- You have just been hired as a loan officer at a national bank. Your first assignment is to calculate the amount of the periodic payment (in $) required to amortize (pay off) the following loan being considered by the bank (use Table 12-2). (Round your answer to the nearest cent.) LoanPayment PaymentPeriod Term ofLoan (years) NominalRate (%) Present Value(Amount of Loan) $ every month 1.75 6 $30,000arrow_forwardSubject - advanced math Frank's loan pay off is to be made in two installments: $2500 in a year, and $3500 in 3 ½year. After talking to his loan officer, it was decided that he could pay both installments in 20months. How much would he pay if his loan is processed at 7 ¼ simple interest. Draw a timelineto illustrate your solution.arrow_forwardIf you borrowed $30,000 at 25% annual interest. You agreed to repay the loan with five equal annual payments. How much of the total amount repaid is interest? How much of the third annual payment is interest, and how much principal is there? If you decided to pay off your loan after the third payment, how much will you pay? (Please Include Equations used and cashflow diagram) (Please don't use excel)arrow_forward
- For the following questions, choose the letter of the best answer (showing work): 2.1. How many months would you have to put $500 per month into an account that earns 4% monthlyin order to accumulate $6,000?(a) 10 months(b) 65 months(c) 15 months(d) 5 months 2.2. A machine will need to be replaced 10 years from today for $10,000. How much must be depositednow into an account that earns 5% per year to cover the replacement cost?(a) $1,486(b) $6,139(c) $10,000(d) $4,810 2.3. An effective rate of 10% per quarter is closest to what effective rate per year?(a) 40.00%(b) 46.41%(c) 10.38%(d) 16.99% 2.4. If the internal rate of return (IRR) of Alternative A is 30%, the IRR of Alternative B is 25%, andMARR is 20%, which of the following is correct?(a) Not enough information is given to determine which alternative is preferred(b) Alternative A is preferred over Alternative B(c) Alternative B is preferred over Alternative A(d) Neither Alternative A nor Alternative B is acceptable 2.5.…arrow_forwardThe case of transaction exposure is described as follows. Choose the correct answer in the parenthesis in the description of the case. The choice is in bold letters. My company sold a product to a German co., and sales department signed a contract to receive Euro 10,000 3 month later, A/R of Euro 10,000. The sales contract is delivered to my desk. I, a treasurer, am wondering how much USD my co. will get from Euro 10,000 3 months from now. The currency market is in turmoil, I will get more USD when USD weakens against EUR in the next 3 months. Market anticipates strong USD. However, if USD strengthens more than market expects, I will get (more /less) USD from sales contract of EUR 10,000. Are there any possibility to lock in my USD receipt to a certain level, or at minimum. In that way, my USD receipt will not get any lower even though USD appreciates more than the rate I can contract (buy EURO/sell EURO) now. How and what kind of contracts are available now to protect/hedge…arrow_forwardAs one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI (in $), using this table and the monthly PITI (in $) for the mortgage. (Round dollars to the nearest cent.) Amount Interest Financed Rate $220,000 7.50% Term of Loan (years) 25 $ Monthly PI Annual Property Tax $6,543 Annual Insurance $2,126 $ Monthly PITIarrow_forward
- B Spreadsheet A bank's mortgage department must process the following six jobs to maximize client satisfaction. Processing Time (days) 14 12 16 11 18 22 Mortgage 1 2 3 4 5 6 55 17 80 22 39 60 What sequencing rule should you use? For the rule you selected, find the best sequence using the Excel Sequencing template. The most appropriate sequence rule is -Select- The best sequence is -Select- ✔ -Select- ✓ -Select- ✓ Due Date -Select- ✓ -Select- ✔ -Select- ✓arrow_forwardYou are the manager of the Mighty Fine mutual fund. The following table reflects the activity of the fund during the last quarter. The fund started the quarter on January 1 with a balance of $100 million. Mighty Fine Mutual Pund Monthly Data (measured at end of month) February -4.3 6.20 March January 5.5 Net inflows ($ million) HPR () -4.30 1.80 Required: a. Calculate the quarterly arithmetic average return on the fund. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Arithmetic average 1.23 % b. Calculate the quarterly geometric (time-weighted) average return on the fund. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Geometric average 1.14 % c. Calculate the quarterly dollar-weighted average return on the fund. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Dollar-weighted average returnarrow_forwardUsing Table 11-1, compute the amount of compound interest (in $) earned in 1 year and the annual percentage yield (APY) for the investment. (Round your answers to two decimal places.) Principal NominalRate (%) InterestCompounded Compound InterestEarned in 1 Year Annual PercentageYield (APY) $33,000 12 monthly $ %arrow_forward
- A loan of $15,000 requires monthly payment of $477 over a 36-month period of time a) What is the nominal interest rate? ( ) b) What is the effective interest rate? ( c) Determine the amount of unpaid loan after 20 months?arrow_forward(7) What is the definition of Annual Percentage Rate (‘APR’) for a loan? Why is it typicallydifferent than the stated interest rate?arrow_forwardA woman borrows $1000 at the beginning of each of her 4 years in college, signing a note to pay off the debt with interest rate of 2.5% in 5 equal annual installments, the first installment to be paid 5 years after the first $1000 was borrowed. Find the amount of each installment Answer : $916.16 Topic: Engineering Economicsarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education