Excel Gateway Vacations

Project Description

You have been hired as a loan officer for Gateway Vacation properties, a timeshare company in Southern Florida. As part of your responsibilities, you calculate loan information for customers who purchase timeshares. You will use Excel to calculate down payment, interest rate, and total payment information.

Steps to Perform

Step 1

Download and open the file named Exp19_Ch02_Assessment_TimeShare.xlsx. Grader has automatically added your last name to the beginning of the filename.

Step 2

Click cell B2, click the Formulas tab, click Date & Time in the Functions Library group. Select NOW, and then click OK to enter today's date in the cell.

Step 3

Click cell D9. On the Formulas tab, click Logical in the Function Library group, and select IF. Type C9<$B$6 in the Logical_test box, type B9*$B$4 in the Value_if_true box, and type B9*$B$5 in the Value_if_false box. Click OK, and use the fill handle to copy the contents of cell D9 down the column. Click Auto Fill Options, and click Fill Without Formatting.

Step 4

Click cell E9, type =(B9-D9)/B9, and use the fill handle to copy the contents of cell E9 down the column. Click Auto Fill Options, and click Fill Without Formatting.

Step 5

Click cell F9, type =B9-D9, and and press CTRL+ENTER. Use the fill handle to copy the contents of cell F9 down the column. Click Auto Fill Options, and click Fill Without Formatting.

Step 6

Click cell G9, click Lookup & Reference in the Function Library group and select VLOOKUP. Type C9 in the Lookup_value box, type $D$4:$E$6 in the Table_array box, and type 2 in the Col_index_num box. Click OK.

Step 7

With cell G9 selected, use the fill handle to copy the contents of cell G9 down the column, stopping at row 28. Click Auto Fill Options, and click Fill Without Formatting. With the range G9:G28 selected, on the Home tab, in the Number group, click Increase Decimal twice.

Step 8

Click cell H9, type =G9/12, and press CTRL+ENTER Use the fill handle to copy the contents of cell H9 down the column, stopping at row 28. Click Auto Fill Options, and click Fill Without Formatting. With the range H9:H28 selected, on the Home tab, in the Number group, click Increase Decimal twice.

Step 9

Click cell J9, type =I9*12, and press CTRL+ENTER. Use the fill handle to copy the contents of cell J9 down the column. Click Auto Fill Options, and click Fill Without Formatting.

Step 10

Click cell K9. Click the Formulas tab, click Financial, and then click PMT. Type H9 in the rate box, J9 in the NPER box, and type -F9 in the Pv box. Click OK.

Step 11

Use the fill handle to copy the contents of cell K9 down the column. Click Auto Fill Options, and click Fill Without Formatting.

Step 12

Click cell K29, press ALT+=, and press ENTER.

Step 13

Click cell B32, type =COUNT(A9:A28), and press CTRL+ENTER to calculate the total # of loans.

Step 14

Click cell B33, type =MIN(K9:K28), and press CTRL+ENTER to calculate the lowest monthly payment.

Step 15

Click cell B34, type =MAX(K9:K28), and press CTRL+ENTER to calculate the highest monthly payment.

Step 16

Click cell B35, type =AVERAGE(K9:K28), and press CTRL+ENTER to calculate the average monthly payment.

Step 17

Click cell B36, type =MEDIAN(K9:K28), and press CTRL+ENTER to calculate the median monthly payment.

Step 18

Create a footer with your name on the left side, the sheet name code in the center, and the file name on the right side.

Step 19

Save and close Exp19_Excel_CH02_Assessment_Timeshare.xlsx.