tep Instructions

1 Start Excel. Download and open the file

named Exp22_Excel_Ch02_ML2_Vacation Property.xlsx.
Grader has automatically added your last name to the
beginning of the filename.

2 Write an IF function in cell D9 that calculates the down

payment for the mortgage. The down payment is 15% of the
purchase price if the customer is considered high risk or 5%
of the purchase price if considered low risk. The criteria to
assess the risk of the loan is based on the credit score value
in cell B6. Be sure to use the appropriate absolute or mixed
cell references when referencing the input values in the
range B4:B6. Then use the fill handle to copy the formula
down, stopping in cell D28.

3 Enter a formula to calculate the percent financed in cell E9.

The percent financed is the amount financed/purchase price.
Next use the fill handle to copy the formula down, stopping
cell E28.

4 Enter a formula in cell F9 to calculate the amount financed.

The amount financed is the purchase price-down payment.
After entering the formula, use the fill handle to copy the
formula down, stopping in cell F28.

5 Use the VLOOKUP function in cell G9 to lookup the

mortgage rate based on the customer credit score and the
data in the range D4:E6. Be sure to use the appropriate
absolute or mixed cell references. Use the fill handle to copy
the formula down, stopping in cell G28.

6 Calculate the rate per period in cell H9. All mortgages being
financed will be paid monthly. After completing the formula,
use the fill handle to copy the formula down, stopping in cell
H28.

7 Calculate the total number of payment periods in cell J9

based on the years financed in cell I9. After completing the
formula, use the fill handle to copy the formula down,
stopping in cell J28.

8 Use the PMT function to calculate the total monthly payment

in cell K10 based on the periodic interest rate, number of
periods, and amount financed. Ensure the results are a
positive value then use the fill handle to copy the function,
down stopping in cell K28.

9 Use Quick Analysis to calculate the total of all payments in

cell K29. (Quick Analysis is not available for Mac. If using a
Mac, use AutoSum to calculate the SUM of the range
K9:K28).
tep Instructions
1 Start Excel. Download and open the file
named Exp22_Excel_Ch02_ML2_Vacation Property.xlsx.
Grader has automatically added your last name to the
beginning of the filename.

2 Write an IF function in cell D9 that calculates the down

payment for the mortgage. The down payment is 15% of the
purchase price if the customer is considered high risk or 5%
of the purchase price if considered low risk. The criteria to
assess the risk of the loan is based on the credit score value
in cell B6. Be sure to use the appropriate absolute or mixed
cell references when referencing the input values in the
range B4:B6. Then use the fill handle to copy the formula
down, stopping in cell D28.

3 Enter a formula to calculate the percent financed in cell E9.

The percent financed is the amount financed/purchase price.
Next use the fill handle to copy the formula down, stopping
cell E28.

4 Enter a formula in cell F9 to calculate the amount financed.

The amount financed is the purchase price-down payment.
After entering the formula, use the fill handle to copy the
formula down, stopping in cell F28.

5 Use the VLOOKUP function in cell G9 to lookup the

mortgage rate based on the customer credit score and the
data in the range D4:E6. Be sure to use the appropriate
absolute or mixed cell references. Use the fill handle to copy
the formula down, stopping in cell G28.

6 Calculate the rate per period in cell H9. All mortgages being
financed will be paid monthly. After completing the formula,
use the fill handle to copy the formula down, stopping in cell
H28.

7 Calculate the total number of payment periods in cell J9

based on the years financed in cell I9. After completing the
formula, use the fill handle to copy the formula down,
stopping in cell J28.

8 Use the PMT function to calculate the total monthly payment

in cell K10 based on the periodic interest rate, number of
periods, and amount financed. Ensure the results are a
positive value then use the fill handle to copy the function,
down stopping in cell K28.

9 Use Quick Analysis to calculate the total of all payments in

cell K29. (Quick Analysis is not available for Mac. If using a
Mac, use AutoSum to calculate the SUM of the range
K9:K28).
tep Instructions
1 Start Excel. Download and open the file
named Exp22_Excel_Ch02_ML2_Vacation Property.xlsx.
Grader has automatically added your last name to the
beginning of the filename.

2 Write an IF function in cell D9 that calculates the down

payment for the mortgage. The down payment is 15% of the
purchase price if the customer is considered high risk or 5%
of the purchase price if considered low risk. The criteria to
assess the risk of the loan is based on the credit score value
in cell B6. Be sure to use the appropriate absolute or mixed
cell references when referencing the input values in the
range B4:B6. Then use the fill handle to copy the formula
down, stopping in cell D28.

3 Enter a formula to calculate the percent financed in cell E9.

The percent financed is the amount financed/purchase price.
Next use the fill handle to copy the formula down, stopping
cell E28.

4 Enter a formula in cell F9 to calculate the amount financed.

The amount financed is the purchase price-down payment.
After entering the formula, use the fill handle to copy the
formula down, stopping in cell F28.

5 Use the VLOOKUP function in cell G9 to lookup the

mortgage rate based on the customer credit score and the
data in the range D4:E6. Be sure to use the appropriate
absolute or mixed cell references. Use the fill handle to copy
the formula down, stopping in cell G28.

6 Calculate the rate per period in cell H9. All mortgages being
financed will be paid monthly. After completing the formula,
use the fill handle to copy the formula down, stopping in cell
H28.

7 Calculate the total number of payment periods in cell J9

based on the years financed in cell I9. After completing the
formula, use the fill handle to copy the formula down,
stopping in cell J28.

8 Use the PMT function to calculate the total monthly payment

in cell K10 based on the periodic interest rate, number of
periods, and amount financed. Ensure the results are a
positive value then use the fill handle to copy the function,
down stopping in cell K28.

9 Use Quick Analysis to calculate the total of all payments in

cell K29. (Quick Analysis is not available for Mac. If using a
Mac, use AutoSum to calculate the SUM of the range
K9:K28).
tep Instructions
10 Use the appropriate statistical functions in the range
B32:B36 to calculate descriptive statistics based on the row
headings in the range A32:B36. In cell B32, calculate the
total count of loans based on column A, lowest payment in
cell B33 based on the data in column K, highest payment in
B34, average payment in B35, and median payment in B36.

11 Use the XLOOKUP function in cell E32 to lookup the

employee number in cell D32 and return the corresponding
down payment, % finances, and amount financed.

12 Use the appropriate function to insert the current date and

time in cell B2.

13 Save and close the workbook. Submit the file as directed.

Close

tep Instructions
10 Use the appropriate statistical functions in the range
B32:B36 to calculate descriptive statistics based on the row
headings in the range A32:B36. In cell B32, calculate the
total count of loans based on column A, lowest payment in
cell B33 based on the data in column K, highest payment in
B34, average payment in B35, and median payment in B36.

11 Use the XLOOKUP function in cell E32 to lookup the

employee number in cell D32 and return the corresponding
down payment, % finances, and amount financed.

12 Use the appropriate function to insert the current date and

time in cell B2.

13 Save and close the workbook. Submit the file as directed.

Close
tep Instructions
10 Use the appropriate statistical functions in the range
B32:B36 to calculate descriptive statistics based on the row
headings in the range A32:B36. In cell B32, calculate the
total count of loans based on column A, lowest payment in
cell B33 based on the data in column K, highest payment in
B34, average payment in B35, and median payment in B36.

11 Use the XLOOKUP function in cell E32 to lookup the

employee number in cell D32 and return the corresponding
down payment, % finances, and amount financed.

12 Use the appropriate function to insert the current date and

time in cell B2.

13 Save and close the workbook. Submit the file as directed.

Close
Close