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Creating an excel spreadsheet

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Details: In this project, you will create an expense report for a company's sales force, then save it. To view these instructions while you work in Excel, do either of the following: Print this page of instructions or move back and forth between this page and Excel by clicking each application's button on the Windows taskbar

Retrieve Expense Report, save it on your computer, and open it in Excel. This partially completed workbook contains the column headings and several expense items.
Enter a SUM function in cells C12: N12 that totals the figures in rows 8 through 11. To do so, enter =SUM(C8:C11) in cell C12, then use the copy and paste feature to copy the formula to columns D through N. (Remember that you can paste more than once without copying again).
In cell M4, put the label "Allowance." In cell M5, type "0.32" (the amount paid per mile). In cell M8, put a formula that multiplies the mileage in cell L8 by the mileage allowance in cell M5. (Remember to use an absolute reference to cell M5 and a relative reference to L8.) Copy the formula to cells M9:M11.
In cell N8, sum the range C8:K8 and M8 (omitting column L, which is not an expense). Hint: One way is to use the SUM function for the contiguous range and add in the noncontiguous cell. Another way is to enter the range as two separate arguments of the SUM function.) Copy the formula to cells N9:N11.
Select the column headings in row 6 and format them as bold.
Create a report title by typing Expense Report in A2. Select cells A2:N2 and use the Merge and Center button to center the title across the report. Change its font size to 14. Also, use the Merge and Center button to place "Transportation" above "Air and Ground" and "Meals" above "Brkfast, Lunch, and Dinner." Don't forget to format these words to match the other headings.
Select the date in cells A8:A11 and change the format to day-month.
Highlight the range A8:M11. Change the background to Light Turquoise; add borders around each cell in the range. (Hint: You can use the All Borders button on the Formatting toolbar.)
You may need to change the column widths.
Using Page Setup, create a custom footer with "Created by Your Name" at the right side. Change the page orientation to Landscape, and select the Fit to One Page option.
Save the finished workbook as Expense Report 1.

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Excel Spreadsheet - TVM questions

Financial Management Questions. See attached file for full problem description.

a. Find the FV of $1,000 invested to earn 10% after 5 years. Answer this question by using a
math formula and also by using the Excel function wizard.

Inputs: PV = 1000
i = 10%
n = 5
Formula: FV = PV(1+I)^n =
Wizard (FV):

Note: When you use the wizard and fill in the menu items, the result is the formula you see on the
formula line if you put the pointer on cell E12. Put the pointer on E12 and then click the function
wizard (fx) to see the completed menu. Finally, it is generally easiest to fill in the wizard menus by
clicking on one of the menu slots to activate the cursor in that slot and then clicking on the input cell
where the item is given. Then, hit the tab key to move down to the next menu slot.

Experiment by changing the input values to see how quickly the output values change.

b. Now create a table that shows the FV at 0%, 5%, and 20% for 0, 1, 2, 3, 4, and 5 years. Then
create a graph with years on the horizontal axis and FV on the vertical axis to display your results.

Begin by typing in the row and column labels as shown below. We could fill in the table by inserting
formulas in all the cells, but a better way is to use an Excel data table as described in 07model. We
used the data table procedure. Note that the Row Input Cell is D9 and the Column Input Cell is D10,
and we set Cell B32 equal to Cell E11. Then, we selected (highlighted) the range B32:E38, then clicked
Data, Table, and filled in the menu items to complete the table.

Years (D10): Interest Rate (D9)
0% 5% 20%
0
1
2
3
4
5

To create the graph, first select the range C33:E38. Then click the chart wizard. Then follow the menu.
It is easy to make a chart, but a lot of detailed steps are involved to format it so that it's "pretty." Pretty
charts are generally not necessary to get the picture, though. Note that as the last item in the chart
menu you are asked if you want to put the chart on the worksheet or on a separate tab. This is a matter
of taste. We put the chart right on the spreadsheet so we could see how changes in the data lead to
changes in the graph.

Note that the inputs to the data table, hence to the graph, are now in the row and column heads.
Change the 10% in Cell E32 to .2 (or 20%), then to .3, then to .5, etc., to see how the table and the chart
changes.

c. Find the PV of $1,000 due in 5 years if the discount rate is 10%. Again, work the problem with
a formula and also by using the function wizard.

Inputs: FV = 1000
i = 10%
n = 5
Formula: PV = FV/(1+I)^n =
Wizard (PV):

Note: In the wizard's menu, use zero for PMTS because there are no periodic payments. Also,
set the FV with a negative sign so that the PV will appear as a positive number.

d. A security has a cost of $1,000 and will return $2,000 after 5 years. What rate of return does the
security provide?

Inputs: PV = -1000
FV = 2000
i = ?
n = 5

Wizard (Rate):

Note: Use zero for Pmt since there are no periodic payments. Note that the PV is given a
negative sign because it is an outflow (cost to buy the security). Also, note that you must
scroll down the menu to complete the inputs.

e. Suppose California's population is 30 million people, and its population is expected to grow by 2%
per year. How long would it take for the population to double?

Inputs: PV = -30
FV = 60
i = growth rate 2%
n = ?

Wizard (NPER): = Years to double.

f. Find the PV of an annuity that pays $1,000 at the end of each of the next 5 years if the interest rate
is 15%. Then find the FV of that same annuity.

Inputs: Pmt $1,000
n 5
i 15%

PV: Use function wizard (PV) PV =

FV: Use function wizard (FV) FV =

g. How would the PV and FV of the annuity change if it were an annuity due rather than an ordinary
annuity?

For the PV, each payment would be received one period sooner, hence would be discounted back one
less year. This would make the PV larger. We can find the PV of the annuity due by finding the PV of
an ordinary annuity and then multiplying it by (1 + i).

PV annuity due = x =

Exactly the same adjustment is made to find the FV of the annuity due.

FV annuity due = x =

h. What would the FV and the PV for problems a and c be if the interest rate were 10% with
semiannual compounding rather than 10% with annual compounding?

Part a. FV with semiannual compounding: Orig. Inputs: New Inputs:
Inputs: PV = 1000 1000
i = 10% 5%
n = 5 10
Formula: FV = PV(1+I)^n =
Wizard (FV):

Part c. PV with semiannual compounding: Orig. Inputs: New Inputs:
Inputs: FV = 1000 1000
i = 10% 5%
n = 5 10
Formula: FV = FV/(1+I)^n =
Wizard (PV):

i. Find the PV and the FV of an investment that makes the following end-of-year payments. The
interest rate is 8%.

Year Payment
1 100
2 200
3 400

Rate = 8%

To find the PV, use the NPV function: PV =

Excel does not have a function for the sum of the future values for a set of uneven payments.
Therefore, we must find this FV by some other method. Probably the easiest procedure is to simply
compound each payment, then sum them, as is done below. Note that since the payments are received
at the end of each year, the first payment is compounded for 2 years, the second for 1 year, and the
third for 0 years.

Year Payment x (1 + I )^(n-t) = FV
1 100 1.17 116.64
2 200 1.08 216.00
3 400 1.00 400.00

Sum =

An alternative procedure for finding the FV would be to find the PV of the series using the NPV
function, then compound that amount, as is done below:

PV =
FV of PV =

j. Suppose you bought a house and took out a mortgage for $50,000. The interest rate is 8%, and
you must amortize the loan over 10 years with equal end-of-year payments. Set up an amortization
schedule that shows the annual payments and the amount of each payment that goes to pay off the
principal and the amount that constitutes interest expense to the borrower and interest income to
the lender.

Original amount of mortgage: 50000
Term of mortgage: 10
Interest rate: 0.08

Annual payment (use PMT function):

Year Beg. Amt. Pmt Interest Principal End. Bal.
1
2
3
4
5
6
7
8
9
10

Extensions: i. Create a graph that shows how the payments are divided between interest and
principal repayment over time.

Go back to cells D184 and D185, and change the interest rate and the term to maturity to
see how the payments would change.

ii. Suppose the loan called for 10 years of monthly payments, with the same original
amount and the same nominal interest rate. What would the amortization schedule show
now?

Now we would have a 12*10 = 120 payment loan at a monthly rate of .08/12 = 0.666667%.
The monthly payment would be:

Month Beg. Amt. Pmt Interest Principal End. Bal.
1
2
3
4
5
6
7
8
9
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