WGU C268 UPDATED EXAMS SCRIPT QUESTIONS
AND ANSWERS SURE A+
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. [34
Points] - ✔✔=PMT(Rate/#months of term,LoanAmt)
=PMT(C13/12,C12,C11)
✔✔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. - ✔✔=F19*$C$13/12
✔✔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. - ✔✔=C20-D20
✔✔Calculate, in cell F20, the balance for period 1. The balance is the difference
between the balance for period 0 (cell F19) and the 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. - ✔✔=F19-E20
✔✔Calculate, in cell G12, the total amount paid by multiplying the payment amount (cell
C15) by the term of the loan (cell C12). - ✔✔=C15*C12
✔✔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. - ✔✔=SUM(D20:D67)
✔✔Check to see if the total interest calculation in the amortization table is correct. The
total interest paid is also equal to the difference between the total amount paid over the
course of the loan and the original loan amount. Insert a formula into cell G14 to
calculate the difference between the total amount paid and the original loan amount.
Notice the negative sign associated with the original loan amount. This value should
equal the total interest calculated using the amortization table. - ✔✔=G12-ABS(C11)
✔✔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 $4000. Will this cover the
balance remaining on the car in period 36? Answer either "Yes" or "No" in cell G15 from
the drop-down menu. - ✔✔No
✔✔Use the HLOOKUP function to complete the "Hourly Wage" column of table 1. Use
the "Employee" column of table 1 as the lookup_value and the "Employee Wage
Information" above table 1 as your reference table. -
✔✔=HLOOKUP(D16,$E$11:$H$12,2,FALSE)
✔✔Use the AND function to complete the "Time Bonus?" column of table 1. An
employee earns a time bonus if the project's "Hours Worked" are fewer than the
"Estimated Hours" and if the work "Quality" is greater than 1. -
✔✔=AND(E16<C16,H16>1)
✔✔Use the OR function to complete the "Outcome Bonus?" column of table 1. An
employee earns an outcome bonus if the difficulty of a job is greater than 3 or if the
quality of their work is equal to 3. - ✔✔=OR(G16>3,H16=3)
✔✔Use the IF function to complete the "Time Bonus $" column of table 1. If an
employee earns a time bonus (i.e., the corresponding cell in the "Time Bonus?" column
is TRUE), then "Time Bonus $" is the "Job Pay" for that project times the bonus
percentage in cell M11. Otherwise "Time Bonus $" is 0. - ✔✔=IF(I16,K16*$M$11,0)
✔✔Use the IF function to complete the "Outcome Bonus $" column of table 1. If an
employee earns an outcome bonus (i.e., the corresponding cell in the "Outcome
Bonus?" column is TRUE), then "Outcome Bonus $" is the "Job Pay" for that project
AND ANSWERS SURE A+
Calculate the payment amount for the loan in cell C15. Reference the cells containing
the appropriate loan information as the arguments for the function you use. Cells C20-
C67 in the "Payment" column are populated with the payment amount from cell C15. [34
Points] - ✔✔=PMT(Rate/#months of term,LoanAmt)
=PMT(C13/12,C12,C11)
✔✔Calculate, in cell D20, the interest amount for period 1 by multiplying the balance in
period 0 (cell F19) by the loan interest rate (cell C13) divided by 12. Dividing the interest
rate by 12 results in the monthly interest rate. This formula is reusable. The interest for
a given period is always the monthly interest rate times the balance from the previous
period. - ✔✔=F19*$C$13/12
✔✔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. - ✔✔=C20-D20
✔✔Calculate, in cell F20, the balance for period 1. The balance is the difference
between the balance for period 0 (cell F19) and the 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. - ✔✔=F19-E20
✔✔Calculate, in cell G12, the total amount paid by multiplying the payment amount (cell
C15) by the term of the loan (cell C12). - ✔✔=C15*C12
✔✔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. - ✔✔=SUM(D20:D67)
✔✔Check to see if the total interest calculation in the amortization table is correct. The
total interest paid is also equal to the difference between the total amount paid over the
course of the loan and the original loan amount. Insert a formula into cell G14 to
calculate the difference between the total amount paid and the original loan amount.
Notice the negative sign associated with the original loan amount. This value should
equal the total interest calculated using the amortization table. - ✔✔=G12-ABS(C11)
✔✔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 $4000. Will this cover the
balance remaining on the car in period 36? Answer either "Yes" or "No" in cell G15 from
the drop-down menu. - ✔✔No
✔✔Use the HLOOKUP function to complete the "Hourly Wage" column of table 1. Use
the "Employee" column of table 1 as the lookup_value and the "Employee Wage
Information" above table 1 as your reference table. -
✔✔=HLOOKUP(D16,$E$11:$H$12,2,FALSE)
✔✔Use the AND function to complete the "Time Bonus?" column of table 1. An
employee earns a time bonus if the project's "Hours Worked" are fewer than the
"Estimated Hours" and if the work "Quality" is greater than 1. -
✔✔=AND(E16<C16,H16>1)
✔✔Use the OR function to complete the "Outcome Bonus?" column of table 1. An
employee earns an outcome bonus if the difficulty of a job is greater than 3 or if the
quality of their work is equal to 3. - ✔✔=OR(G16>3,H16=3)
✔✔Use the IF function to complete the "Time Bonus $" column of table 1. If an
employee earns a time bonus (i.e., the corresponding cell in the "Time Bonus?" column
is TRUE), then "Time Bonus $" is the "Job Pay" for that project times the bonus
percentage in cell M11. Otherwise "Time Bonus $" is 0. - ✔✔=IF(I16,K16*$M$11,0)
✔✔Use the IF function to complete the "Outcome Bonus $" column of table 1. If an
employee earns an outcome bonus (i.e., the corresponding cell in the "Outcome
Bonus?" column is TRUE), then "Outcome Bonus $" is the "Job Pay" for that project
