Major Assignment 2 Grading Sheet

Competency Requirements for full credit

Name You have entered your full name in the field provided.

The interest rates you have entered come from the mortgage rates table
Interests and match those for the months and years provided.
Rates You have explicitly formatted the cells to display as Percentage with 2
decimal places of precision.
Your Electric, Gas, Water, and Other entries are reasonable values, with at
least two nonzero entries. For zero entries, you have explicitly entered
values of 0.
Monthly Costs
and Savings Your Total Cost and Monthly Savings formulas are correct and use
appropriate cell references.
All cost cells are formatted as Currency showing the $ symbol and with 2
decimal places of precision.
You have brought forward your monthly savings amount, using Excel
formulas.
Your number of contributions per year and number of years entries are
Savings and correct.
Savings Table
Loan Analysis Your formulas for total amount saved, total contributions, and total accrued
interest are correct and use cell references.
All cells are explicitly formatted with the format given in the last column of
the table.
You have entered the correct number of contributions per year and number
of years.

Your formulas for payment amount, total amount paid, and total amount of
Loan Table interest paid are correct and use cell references as inputs.

All cells are explicitly formatted with the format given in the last column of
the table.
You have correctly brought forward your savings and loan amounts, using
cell references.
Your savings and loan cells are explicitly formatted with the format given in
Comparison the last column of the table.

You have answered the comparison questions correctly, answering either

"yes" or "no" for each one.

Your reference CPI is correct for the month and year given.
Your next-year CPI, month, and year are correct.
Inflation Rate Your inflation rate calculation is correct.
Calculation

Budget Cost
 Inflation Rate
Calculation
Your CPI values and inflation rate are explicitly formatted as indicated in the
instructions.
You have correctly entered your Budget Total from cell G21 of the Monthly
Budget Cost Budget sheet from your Major Assignment 1.
Projection Your "value of t" entries are correct.
Your 1-year, 5-year, and 10-year projections are correct Excel formulas using
Budget cell references.
Projections
Your percent increase calculations are correct Excel formulas using cell
references.
Your Current Budget, Projected Budget and Percent Increase cells are
formatted as indicated in the instructions.

You have brought forward your monthly savings amount from the Savings
Monthly
and Loan Analysis sheet, using an Excel formula with a sheet and cell
Savings
reference.
You have entered the first two letters of your first and last names, using the
letter M if one or both names consist of only one letter.
You have chosen appropriate countries from the list provided below the
table, using the procedure described in the instructions.
You have entered the date(s) on which you looked up the exchange rates for
your currencies, and all dates are within 2 weeks of the due date of your
assignment.
You have entered both the full name of your country's currency and the
correct currency code as indicated on the website.
Conversions
Currency You have provided each exchange rate to at least 5 significant digits, and the
Conversions exchange rate matches the rate for the date you looked it up.

Your savings amount in the foreign currency is a correct Excel formula, using
cell references.

Your calculation of the value of foreign currency units into dollars are
correct Excel formulas, using cell references. (Note that the amount to
convert is autogenerated and may differ from the amount shown in
assignment resources.)

The cells containing your dates, savings amounts, and value of foreign
currency converted to dollars are correctly formatted as specified in the last
column of the table.
et

(optional for
student use) Did Points
you meet the possible Your points Scoring comments
requirements?

36

18

36

15

Subtotals 160 0
1
3
6
 3

12

12

Subtotals 49 0

16

16

12

Subtotals 70 0
Totals 279 0
Percentage 100.00% 0.00%
Scaled out of
100 100.00 0.00
1 In Major Assignment 1, you created a monthly budget, which included a recurring cost for utilities. Here, you'll consider ma
paying off the cost of those improvements.

Below, you'll start by entering and adding up the costs of your electric, gas, water, and other energy utilities. Then, given a pe
over the next 5, 10, and 15 years if you contribute your monthly savings into an account with a given APR. Here, you'll use the
of n periods per year for t years and earning interest at an annual percentage rate of r, the total amount A accrued after t year

A = P*((1+r/n)^(n*t)-1)/(r/n)

Next, you'll develop a cost to install energy-efficient improvements (installing energy-efficient doors and windows, adding insu
monthly payment if you were to finance the installation cost by a loan of 5, 10, or 15 years. Here, you will use this formula: gi
required to pay off the loan with n payments per year for t years (with payments made at the end of each period) is given by (

PMT = P*(r/n)/(1-(1+r/n)^(-n*t))

Important Note: For your savings and loan payment calculations, as well as for calculating the associated interest, you MUST
these values.

For all the above calculations, you will look up rates in the "Historical Mortgage Rates" table of 30-year fixed mortgage rates, b
this template.)

2 Enter your full name in the blue- Assignment Advisory: You must use the lat
shaded box here (If there are fewer is provided free by GCU; contact the Help Desk f
than 9 letters, add additional arbitrary version of Excel or a different spreadsheet progra
letters) from or into this temp

Savings
Your full name entry must be
APR Year
longer
3 Look up three interest rates from
the historical mortgage rate table,
formatting them as Percentage with 2 Your full name entry must be
decimal places. Make sure to format APR Month
longer
these as percentage values. For
example, if 4.03 appears in the table,
then it should appear here as 4.03%.
Interest Rate

Electric
Gas

4 Enter, or estimate, your monthly

utility costs, then calculate your total
 Water
4 Enter, or estimate, your monthly Other
utility costs, then calculate your total
monthly cost and monthly savings. Total Cost
Format all cells as Currency showing
the $ symbol and with 2 decimals of
precision. Complete the first interest rate
Monthly Percent Savings
entry in section 3 above

Monthly Savings (total cost times

percent savings)

5 Complete this table for your 5-year, Calculation #1

(5-year savings)
Calculation #2
(10-year savings)
10-year, and 15-year savings

Contribution amount (P)

(Bring forward your Monthly Savings
amount from cell C35, using a cell
referrence, for each entry)

Complete the second interest rate Complete the second interest

APR from the table (r)
entry in section 3 above rate entry in section 3 above

Number of contributions per year (n)

Number of years (t)

Total amount saved (A):

Total contribution over the number of

years:

Total accrued interest:

Loan

6 Continue by completing this table

for your 5-year, 10-year, and 15-year Calculation #1 Calculation #2
loans, based on the principal and (5-year loan) (10-year loan)
interest rates given with monthly
payments

Loan principal (P) Your full name entry must be Your full name entry must be
longer longer
 APR from the table (r), with a slightly Complete the third interest rate Complete the third interest rate
higher rate for longer loans entry in section 3 above entry in section 3 above

Number of contributions per year (n)

Number of years (t)

Payment amount (PMT):

Total amount paid over the time of the

loan:

Total amount of interest paid:

Comparison
7 Use Excel formulas to transfer your After 5 years After 10 years
amounts from above
Total savings from energy
improvements

Total loan payments

Have you broken even at this point

(yes or no)? ("Breaking even" here
means that your total savings
outweigh your total loan payments.)
ties. Here, you'll consider making some energy-saving home improvements and compare your potential savings against

gy utilities. Then, given a percent savings due to your energy-saving improvements, you'll calculate how much you'll save
en APR. Here, you'll use the following formula for your calculations: given an amount P contributed at the end of each
mount A accrued after t years is given by (in Excel format):

/n)^(n*t)-1)/(r/n)

rs and windows, adding insulation, upgrading to more efficient appliances or lights, and so on) and then calculate a
you will use this formula: given a loan principal amount P and an annual interest rate of r, the payment amount PMT
of each period) is given by (in Excel format):

/(1-(1+r/n)^(-n*t))

ociated interest, you MUST use direct calculation formulas, and you MAY NOT use built-in Excel functions to calculate

-year fixed mortgage rates, based on the years and months specified in step 6 below. (This table is included as a tab in

sory: You must use the latest desktop version of Excel for Microsoft 365 for this assigment. (This
CU; contact the Help Desk for more information and help installing the software.) Using an earlier
ifferent spreadsheet program may result in missing or corrupted template elements. Copying cells
from or into this template may likewise result in corrupted data.

Your full name entry must be Your full name entry must be
longer longer

Your full name entry must be Your full name entry must be
longer longer

Legend
If a cell is shaded You should
 Blue Enter a text response

Green Enter a number

Gold Enter an Excel formula

Any other color Make no changes

Calculation #3 Format the entries in each

(15-year savings) row as…

…Currency with 2 decimal

places

Complete the second interest

rate entry in section 3 above

…a Number with 0 decimal

places
…a Number with 0 decimal
places
…Currency with 2 decimal
places
…Currency with 2 decimal
places
…Currency with 2 decimal
places

Calculation #3 Format the entries in each

(15-year loan) row as…

Your full name entry must be

longer
Complete the third interest rate
entry in section 3 above

…a Number with 0 decimal

places
…a Number with 0 decimal
places
…Currency with 2 decimal
places
…Currency with 2 decimal
places
…Currency with 2 decimal
places

Format the entries in each

After 15 years
row as…

…Currency with 2 decimal

places
…Currency with 2 decimal
places
Your name (brought forward from the
Savings and Loan Analysis sheet): 0

8 On the Monthly Budget sheet in Major Assignment 1, you evaluated your current expenses. Here, you will project your bud
develop from values in the Consumer Price Index.

As a first step, look up the CPI value for the given month and year as well as the CPI value one year later; then, calculate a year
procedure to look up the CPI value:

1. Go to Bureau of Labor Statistics page link https://data.bls.gov/cgi-bin/surveymost?cu (or use link below)
2. Check the box to the left of text "U.S. city average, All items - CUUR0000SA0"
3. Press the "Retrieve Data" button at the bottom of the list. This should take you to a CPI table for about the last 10

Here, format your CPI entries as Number with 3 decimals of precision, and format your yearly inflation rate as a Percentage wi

CPI Value Month

Your full name entry must

Reference CPI be longer

CPI one year later

Yearly inflation rate (r)

9 Next, enter your budget total from cell G21 of the Monthly Budget sheet from your Major Assignment 1. Then, use the
following formula to project your monthly budget forward 1, 5, and 10 years into the future:

A = B*(1+r)^t

where A is the budget after t years; B is the initial budget; and r is the yearly inflation rate. Here, also calculate how much larg
each budget is in percent than your initial budget. Format your Projected Budget entries as Currency with the $ symbol and 2
decimals of precision; format your Percent Increase cells as Percentages with 2 decimals of precision.

Value of t Projected Budget

Current Monthly Budget (B)

Monthly Budget next year
Monthly Budget in 5 years
Monthly Budget in 10 years
 ent expenses. Here, you will project your budget costs forward, using an inflation rate that you

CPI value one year later; then, calculate a yearly inflation rate based on those CPI values. Use this

/surveymost?cu (or use link below)

000SA0"
d take you to a CPI table for about the last 10 years. CPI Values
t your yearly inflation rate as a Percentage with 2 decimals of precision.

Year

Your full name entry

must be longer Legend

If a cell is shaded You should

Blue Enter a text response

Green Enter a number

m your Major Assignment 1. Then, use the Enter an Excel
Gold
formula
o the future:
Any other color Make no changes

tion rate. Here, also calculate how much larger

t entries as Currency with the $ symbol and 2
ecimals of precision.

Percent Increase over

Current Budget
10 On this second conversion sheet, you will convert your monthly savings into the equivalent amounts in several foreign cu
of the local currency into the equivalent number of US dollars.

Start by transferring your monthly savings from the Savings and Loan Analysis sheet, using an Excel formula that references th

Your monthly savings in dollars

11 Now, from the list below the table below, select four countries that start with the first two letters of
your first and last names. If your first or last name is only one letter long, use the letter M as the second
letter of each name that is one letter long. If there is no country starting with a particular letter or you
have run out of countries to choose from for a particular letter, go to the next letter of the alphabet that
you still have available choices for and select a country starting with that letter. (If you are at the letter
Z, go back to A.)

For each country, identify the name of the country's currency, the currency code (based on the ISO-4217 standard), and the ex
using the following web page: https://www.xe.com/currencyconverter
Currency Converter

Then, convert your monthly savings above into this currency and a given number of units of the local currency into dollars. Th
formulas that use a cell reference for the exchange rate; you may not use the currency converter link or a built-in Excel functio
you're welcome to check your calculation there).

Add special formatting as indicated in the last column of the table. Other entries may use general formatting.

An example is provided for you. Note that this country is not available for you to choose from the list.

First letter of your Second letter of your

Example
first name first name
The letter T

Country starting with the letter

Tajikistan
(or next available letter)

The date that you looked up the

conversion rate (must be within
5/23/2020
2 weeks of your assignment due
date)

Full name of the country's

currency as listed on the XE Tajikistani somoni
website
Currency code (ISO-4217) TJS
 Exchange rate for the currency
to at least 5 significant digits (or
10.2686311694
exact rate if there are fewer
than 5 significant digits)

Your savings in the country's

currency. Note that you must
enter a formula here and then TJS 0.00
format the cell to display the
currency code; do not enter text
in this cell.

Your full name entry must be

$97.38
longer

Choose your countries from this list

Afghanistan Cambodia Guatemala Lebanon

Albania Canada Guernsey (UK) Liberia

Algeria Cayman Islands (UK) Guinea Libya

Angola Chile Guyana Macau (China)
Argentina China Haiti Madagascar
Armenia Colombia Honduras Malawi

Aruba (Netherlands) Comoros Hong Kong (China) Malaysia

Congo, Democratic
Australia Hungary Maldives
Republic of the
Azerbaijan Costa Rica Iceland Mauritania
Bahamas Croatia India Mauritius
Bahrain Cuba Indonesia Mexico

International
Bangladesh Czechia
Monetary Fund (IMF) Moldova

Barbados Denmark Iran Mongolia

Belarus Djibouti Iraq Morocco

Belize Dominica Isle of Man (UK) Mozambique
Myanmar (formerly
Bermuda (UK) Dominican Republic Israel Burma)
Bhutan Egypt Jamaica Namibia
Bolivia Eritrea Japan Nepal
Bosnia and Herzegovina Ethiopia Jersey (UK) New Zealand

Botswana Falkland Islands (UK) Jordan Nicaragua

Brazil Fiji Kazakhstan Nigeria

Brunei Gambia Kenya North Korea
North
Bulgaria Georgia Kuwait Macedonia (formerly
Macedonia)
Burundi Ghana Kyrgyzstan Norway
Cabo Verde Gibraltar (UK) Laos Oman
nt amounts in several foreign currencies and convert a given amount

Excel formula that references the appropriate cell directly:

Legend

If a cell is shaded You should

Enter a text
Blue
response

Green Enter a number

Gold Enter an Excel

formula

Any other color Make no changes

e ISO-4217 standard), and the exchange rate for $1,

Currency Converter

e local currency into dollars. These calculations must be Excel

ter link or a built-in Excel function for this calculation (although

eral formatting.

the list.

First letter of your Second letter of Format this

last name your last name entry as

Date
 Currency with
the country's
currency code
as a symbol

Currency with
the $ symbol

Pakistan Switzerland

Papua New Guinea Syria

Paraguay Taiwan
Peru Tanzania
Philippines Thailand
Poland Tonga
Trinidad and
Qatar Tobago

Romania Tunisia

Russia Turkey
Rwanda Turkmenistan
Saint Helena (UK) Uganda

Samoa Ukraine

Sao Tome and United Arab

Principe Emirates
Saudi Arabia United Kingdom
Serbia Uruguay

Seychelles Uzbekistan

Sierra Leone Vanuatu

Singapore Venezuela
Somalia Vietnam

South Africa Wallis and

Futuna (France)
South Korea Yemen
Sri Lanka Zambia

Sudan

Suriname
Sweden
 Month
Year 1 2 3 4 5 6 7 8 9
1971 7.31 7.43 7.53 7.6 7.7 7.69
1972 7.44 7.32 7.29 7.29 7.37 7.37 7.40 7.40 7.42
1973 7.44 7.44 7.46 7.54 7.65 7.73 8.05 8.50 8.82
1974 8.54 8.46 8.41 8.58 8.97 9.09 9.28 9.59 9.96
1975 9.43 9.10 8.89 8.82 8.91 8.89 8.89 8.94 9.12
1976 9.02 8.81 8.76 8.73 8.76 8.85 8.93 9.00 8.98
1977 8.72 8.67 8.69 8.75 8.83 8.86 8.94 8.94 8.90
1978 9.01 9.14 9.20 9.35 9.57 9.71 9.74 9.78 9.76
1979 10.39 10.41 10.43 10.50 10.69 11.04 11.09 11.09 11.30
1980 12.88 13.04 15.28 16.32 14.26 12.71 12.19 12.56 13.20
1981 14.90 15.13 15.40 15.58 16.40 16.70 16.83 17.28 18.16
1982 17.48 17.60 17.16 16.89 16.68 16.70 16.82 16.27 15.43
1983 13.25 13.04 12.80 12.78 12.63 12.87 13.43 13.81 13.73
1984 13.37 13.23 13.39 13.65 13.94 14.42 14.67 14.47 14.35
1985 13.08 12.92 13.17 13.20 12.91 12.22 12.03 12.19 12.19
1986 10.89 10.71 10.08 9.94 10.15 10.69 10.51 10.20 10.01
1987 9.20 9.08 9.04 9.83 10.60 10.54 10.28 10.33 10.89
1988 10.38 9.89 9.93 10.20 10.46 10.46 10.43 10.60 10.48
1989 10.73 10.65 11.03 11.05 10.77 10.20 9.88 9.99 10.13
1990 9.90 10.20 10.27 10.37 10.48 10.16 10.04 10.10 10.18
1991 9.64 9.37 9.50 9.50 9.47 9.62 9.58 9.24 9.01
1992 8.43 8.76 8.94 8.85 8.67 8.51 8.13 7.98 7.92
1993 7.99 7.68 7.50 7.46 7.47 7.42 7.21 7.11 6.91
1994 7.07 7.15 7.68 8.32 8.60 8.40 8.61 8.51 8.64
1995 9.15 8.83 8.46 8.32 7.96 7.57 7.61 7.86 7.64
1996 7.03 7.08 7.62 7.93 8.07 8.32 8.25 8.00 8.23
1997 7.82 7.65 7.90 8.14 7.94 7.69 7.50 7.48 7.43
1998 6.99 7.04 7.13 7.14 7.14 7.00 6.95 6.92 6.72
1999 6.79 6.81 7.04 6.92 7.15 7.55 7.63 7.94 7.82
2000 8.21 8.33 8.24 8.15 8.52 8.29 8.15 8.03 7.91
2001 7.03 7.05 6.95 7.08 7.15 7.16 7.13 6.95 6.82
2002 7.00 6.89 7.01 6.99 6.81 6.65 6.49 6.29 6.09
2003 5.92 5.84 5.75 5.81 5.48 5.23 5.63 6.26 6.15
2004 5.71 5.64 5.45 5.83 6.27 6.29 6.06 5.87 5.75
2005 5.71 5.63 5.93 5.86 5.72 5.58 5.70 5.82 5.77
2006 6.15 6.25 6.32 6.51 6.60 6.68 6.76 6.52 6.40
2007 6.22 6.29 6.16 6.18 6.26 6.66 6.70 6.57 6.38
2008 5.76 5.92 5.97 5.92 6.04 6.32 6.43 6.48 6.04
2009 5.05 5.13 5.00 4.81 4.86 5.42 5.22 5.19 5.06
2010 5.03 4.99 4.97 5.10 4.89 4.74 4.56 4.43 4.35
2011 4.76 4.95 4.84 4.84 4.64 4.51 4.55 4.27 4.11
2012 3.92 3.89 3.95 3.91 3.80 3.68 3.55 3.60 3.50
2013 3.41 3.53 3.57 3.45 3.54 4.07 4.37 4.46 4.49
2014 4.43 4.30 4.34 4.34 4.19 4.16 4.13 4.12 4.16
2015 3.67 3.71 3.77 3.67 3.84 3.98 4.05 3.91 3.89
2016 3.87 3.66 3.69 3.61 3.60 3.57 3.44 3.44 3.46
2017 4.15 4.17 4.20 4.05 4.01 3.90 3.97 3.88 3.81
2018 4.03 4.33 4.44 4.47 4.59 4.57 4.53 4.55 4.63
2019 4.46 4.37 4.27 4.14 4.07 3.80 3.77 3.62 3.61
2020 3.62 3.47 3.45 3.31 3.23 3.16 3.02 2.94 2.89
10 11 12
7.63 7.55 7.48
7.42 7.43 7.44
8.77 8.58 8.54
9.98 9.79 9.62
9.22 9.15 9.10
8.92 8.81 8.79
8.92 8.92 8.96
9.86 10.11 10.35
11.64 12.83 12.90
13.79 14.21 14.79
18.45 17.82 16.95
14.61 13.82 13.62
13.54 13.44 13.42
14.13 13.64 13.18
12.14 11.78 11.26
9.98 9.70 9.32
11.26 10.65 10.64
10.30 10.27 10.61
9.95 9.77 9.74
10.17 10.01 9.67
8.86 8.71 8.50
8.09 8.31 8.21
6.83 7.16 7.17
8.93 9.17 9.20
7.48 7.38 7.20
7.92 7.62 7.60
7.29 7.21 7.10
6.71 6.87 6.74
7.85 7.74 7.91
7.80 7.75 7.38
6.62 6.66 7.07
6.11 6.07 6.05
5.95 5.93 5.88
5.72 5.73 5.75
6.07 6.33 6.27
6.36 6.24 6.14
6.38 6.21 6.10
6.20 6.09 5.29
4.95 4.88 4.93
4.23 4.30 4.71
4.07 3.99 3.96
3.38 3.35 3.35
4.19 4.26 4.46
4.04 4.00 3.86
3.80 3.94 3.96
3.47 3.77 4.20
3.90 3.92 3.95
4.83 4.87 4.64
3.69 3.70 3.72