WGU C268 Study Guide for EXCEL PA Questions and Correct Answers/ Latest Update / Already Graded

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WGU C268 Study Guide for EXCEL PA
Questions and Correct Answers/ Latest
Update / Already Graded
AMORTIZATION 1. Calculate the payment amount for the loan in cell

C15. Reference the cells containing the appropriate loan

information as the arguments for the function you use. Cells C20-C67

in the "Payment" column are populated with the payment amount

from cell C15.


Ans: =PMT(C13/12,C12,C11)




2. Calculate, in cell D20, the interest amount for period 1 by

multiplying the balance in period 0 (cell F19) by the loan interest rate

(cell C13) divided by 12. Dividing the interest rate by 12 results in the

monthly interest rate. This formula is reusable. The interest for a given

period is always the monthly interest rate times the balance from the

previous period.


Ans: =F19*C$13/12

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3. Copy the Interest amount calcualtion down to complete the

"interest" column of the amortization table.


Ans: Paste down column .




4. Calculate, in cell E20, the principal amount for period 1. The

principal amount is the difference between the payment amount

(cell C20) and the interest amount (cell D20) for period 1. Construct

your formula in such a way that it can be reused to complete the

"principal" column of the amortization table.


Ans: =C20-D20




5. Copy the principal amount calculation down to complete the

"principal" column of the amortization table.


Ans: Copy and paste down.




6. Calculate, in cell F20, the balance for period 1. The balance is the

difference between the balance for period 0 (cell F19) and the

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principal amount for period 1 (cell E20). This formula is reusable. The

balance is always calculated as the difference between the

balance from the previous period and the principal amount for the

current period.


Ans: =F19-E20




7. Copy the balance amount calculation down to complete the

balance column of the amortization table.


Ans: Copy and paste down.




8. Calculate, in cell G12, the total amount paid by multiplying the

payment amount (cell C15) by the term of the loan (cell C12).


Ans: =C15*C12




9. Calculate the total interest paid in cell G13. The total interest paid

is the sum of all interest paid in the "Interest" column of the

amortization table.

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Ans: =SUM(D20:D67)




10. To verify that the total interest calculation from the amortization

table is correct, calculate the total interest paid in cell G14. This is the

difference between the Total Amount Paid over the course of the

loan and the original Loan Amount. Notice the negative sign

associated with the original Loan Amount.


Ans: =G12+C11




11. Assume you have made the first 36 payments on your loan. You

want to trade the car in for a new car. You believe that you can sell

your car for $4000. Will this cover the balance remaining on the car

in period 36? Answer either "Yes" or "No" in cell G15 from the drop-

down menu.


Ans: No




FOUR Js 1. Use the HLOOKUP function to complete the "Hourly Wage"

column of table 1. Use the "Employee" column of table 1 as the