Enter your answers on Tab $1$ of the M$1$ SUBMISSION TEMPLATE. Once you have completed Tab $1,$

you will copy it to Tab $2($copy range is A$1$:B$22).$ Once you$$ve copied your answers to Tab $2,$ you will

click on $$Formulas$,$ then on $$Show Formulas.$$

The homework must be completed according to the Principles of Spreadsheet Design. Remember that

you are graded on the assignment as well as your accuracy in using the Principles of Spreadsheet Design.

$1.$ You want to buy a $2020$ Ferrari Pista Spider. You$$ve found one at a dealer near you for

$$714,500.$ You have $$70,000$ for a down payment. The dealer says he$$ll sell you the car if you

give him the $$70,000$ now and pay him $$800,000$ in three years. What is the interest rate on this

loan? Use the Principles of Spreadsheet Design to set up and solve this problem.

$2.$ Your wealthy relative has left you $$3$ million in trust. You will get $$1,000,000$ and the remainder

in four years. If interest rates are about $4\mathrm{.}5\%,$ what is this worth to you now? Use the Principles

of Spreadsheet Design to set up and solve this problem.

$3.$ The spreadsheet below violates two of the principles of spreadsheet design. Which ones?

A B

$1$ Years $2$

$2$ Purchase price $65,000$

$3$ Future Payment $80,000$

$4$

$5$ Outputs

$6$ Interest rate $=$RATE$($B$2,-$B$3,80000)$

$4.$ The spreadsheet below violates on two of the principles of spreadsheet design. Which ones?

A B

$1$ Finding an unknown i

Inputs

$2$ Years $2$

$3$ Purchase price $65,000$

$4$ Future Payment $80,000$

$5$

$6$ Interest rate $=$RATE$(2,-$B$4,$B$5)|$Tab $1$

Tab $2$