- Create each of these tables using only interest rates from 1% to 7\% (incrementing by 1%). In other words, there should be 7 columns. - Use only periods 1 to 12 . In other words, there should only be 12 rows. - The cells in your spreadsheet should be formulas. Cells that include amounts that are simply typed in, except for the top interest rate row and left hand period column, will receive no credit. The formulas should include an absolute cell reference to the interest rate (top row) and an absolute reference to the period (left hand column). The following discusses the differences between a relative reference and an absolute reference. EXCEL Relative and Absolute cell references By default, a cell reference is a relative reference, which means that the reference is relative to the location of the cell. If, for example, you refer to cell A2 from cell C2, you are actually referring to a cell that is two columns to the left (C minus A) - in the same row (2). When you copy a formula that contains a relative cell reference, that reference in the formula will change. As an example, if you copy the formula =BC4 from cell D4 to D5, the formula in D5 adjusts to the right by one column and becomes =B5C. If you want to maintain the original cell reference in this example when you copy it, you make the cell reference absolute by preceding the columns (B and C) and row (2) with a dollar sign (\$). Then, when you copy the formula =$B$4$C$4 from D4 to D5, the formula stays exactly the same. 2) Asset Retirement Obligation (ARO) Required: Using your PVF table, create an original problem and solution, complete with journal entries, for an Asset Retirement Obligation (discussed on pp. 13-24 and 13-25). In accounting, an asset retirement obligation (ARO) describes a legal obligation associated with the retirement of a tangible, long-lived asset, where a company will be responsible for removing equipment or cleaning up hazardous materials at some future date. The liability is the present value of the cost for returning the property to its original condition. Some examples of ARO's include: Landfill (i.e. county dump), dismantling and removal of an oil rig, restoration of a mining site, dismantling nuclear facilities, restoration of timberland, disposing of contaminated hazardous waste, removal and disposal of asbestos and underground fuel storage tanks