Analyze Profit Potential

Professional

You work as an intern in the college student services department and have been asked to create a worksheet that will aid the clubs on campus in managing their budgets. Each club is allocated money at the beginning of the year and can hold fund-raisers to raise more money for events. Each club is required to save five percent of their income for use at the start of the next year. Table 29 shows the clubs that you are working with, as well as their initial allocation and estimated fund-raiser amounts. You will need to calculate how much they need to save as well as the average, lowest, and highest values for the clubs' budgets. Use the concepts and techniques presented in this chapter to create and format the worksheet.

Table 29

Student Club Data

Club	Allocation	Fund-Raisers
Acting Club	$40,000	$10,000
Golf Club	$25,500	$5,000
Gaming Club	$12,750	$2,000
Math Club	$5,000	$1,000
Photography Club	$3,500	$2,500
Music Club	$1,500	$7,200

I understand the formula MAX, MIN, and AVER for the budgets but on Excel, My question is what formula do I use for savings. What do i need to calculate on Excel.