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HW 1 - Formulas and Functions - Tasks

This document contains instructions for three assignments involving formulas and functions in a spreadsheet. The first assignment involves completing sales transaction data by using formulas to calculate sales tax amounts and totals. The second assignment involves analyzing MLB payroll and win data from 1990 and 2010 using functions like COUNT, SUM, AVERAGE, MAX, and MIN. The third assignment involves calculating loan payments, interest rates, savings amounts using functions like PMT, RATE, FV and comparing total payments over different loan periods.

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hi i'm tunie
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132 views

HW 1 - Formulas and Functions - Tasks

This document contains instructions for three assignments involving formulas and functions in a spreadsheet. The first assignment involves completing sales transaction data by using formulas to calculate sales tax amounts and totals. The second assignment involves analyzing MLB payroll and win data from 1990 and 2010 using functions like COUNT, SUM, AVERAGE, MAX, and MIN. The third assignment involves calculating loan payments, interest rates, savings amounts using functions like PMT, RATE, FV and comparing total payments over different loan periods.

Uploaded by

hi i'm tunie
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Formulas and Functions

This assignment has a total of 100 points.

Complete the homework placing all answers in the cells indicated.

Do not insert rows or columnsunless instructed to do so. The grader relies on the current
worksheet structure.

Formulas

You are responsible for tracking daily sales. The table below lists a few of transactions for your
company. Notice that the sales tax amount and transaction totals are not filled in. Complete the
tasks to the right to complete the table.

Task # Points Task Description

Construct a formula in cell D11 to calculate the sales tax amount for transaction 578. Be sure to
1 7 appropriately reference the transaction amount in cell C11 and the sales tax rate in cell C8 so that
your formula can be reused for the remaining transations.

Copy the formula you used in cell D11 down to calculate the sales tax amount for the remaining
2 1
transactions.
Construct a formula in cell E11 to calculate the total amount for transaction 578. Be sure to
3 6 appropriately reference the transaction amount in cell C11 and the sales tax amount in cell D11 so
that you can reuse your formula to calculate the total for the remaining transactions.

4 2 Copy the formula you used in cell E11 down to calculate the total for the remaining transactions.

5 4 Use the SUM function to calculate the "Grand Total" in for all transactions in cell E24.

Total: 20

Statistics

There are 30 Major League Baselball (MLB) teams. The table below lists the 2010 and 1990
payroll and win totals for each team (notice that four teams were added after the 1990 season).
Some MLB fans complain because the league does little to regulate the amount of money teams
can pay for salaries. They argue that the teams that spend the most money will win the most
games. This would put teams from small markets (that earn less revenue) at a disadvantage.
Complete the 17 tasks listed to the right. Insert your formulas (or responses) in column I for
each task. Are small market teams at a disadvantage?

Task # Points Task Description

1 5 Use the COUNT function to calculate the number of MLB teams in 1990 (range G10:G39).

2 5 Use the COUNTA function to calculate the number of MLB teams in 2010 (use range F10:F39).
3 5 Use the SUM function to calculate the total amount of salaries paid in 1990.

4 5 Use the SUM function to calculate the total amount of salaries paid in 2010.

5 5 Use the AVERAGE function to calculate the average salary for the teams in 1990.

6 5 Use the AVERAGE function to calculate the average salary for the teams in 2010.

7 5 Use the MAX function to determine the maximum team salary amount in 1990.

8 5 Use the MIN function to determine the minimum team salary amount in 2010.

Total: 40

Finance

Complete each task by inserting the appropriate function, referencing the appropriate cells in the
task data, in the specified cells.

Task # Points Task Description

You are interested in purchasing a home. What will your monthly payment be if you take out a
1 5 $175,000 mortgage for 30 years (360 months) at 4.25% interest? (Please reference the loan
information in the "Task 1 Data" cells in your functions.)
You are interested in purchasing a home. You can afford $1200 a month as a mortgage payment.
2 5 How much can you pay for a home assuming a 30 year (360 months) loan at 4.25% interest?
(Please reference the loan information in the "Task 2 Data" cells as the arguments for your function.)

You are interested in purchasing a home. You have been quoted monthly payments of $950 for a 30
year mortgage. Your original loan amount is $212,000. What is the interest rate you will pay on the
3 5
loan? (Please reference the loan information in the "Task 3 & 4 Data" cells as the arguments for your
functions.)

What is the effective annual rate of the loan you worked with in task 3? (Please reference the loan
4 5
information in the "Task 3 & 4 Data" cells as the arguments for your functions.)

You are interested in saving for a trip when you graduate in three years. You can save $75 each of
the next 36 months and earn 2.75% interest on your money. How much money will you have in your
5 5
savings account in 36 months for your trip? (Please reference the loan information in the "Task 5
Data" cells as the arguments for your function.)

You are interested in purchasing a home. You will take out a mortgage of $310,000 to pay for the
home and pay 4.5% interest. What will your monthly payment be if you take 15 years to pay off the
6 5
loan? (Please reference the loan information in the "Task 6-8 Data" cells as the arguments for your
functions.)

What will your monthly payment be if you take 30 years to pay off the loan you worked with in task
7 5 6? (Please reference the loan information in the "Task 6-8 Data" cells as the arguments for your
functions.)

How much money will you save if you pay off the loan in 15 years instead of 30 years? (Please
8 5
reference the total payment amounts in cells C39 and D39 to calculate the difference.)

Total: 40

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