Formulas and Functions

Project Description:

In the following project, you will perform preliminary work on the gym worksheet. You will then calculate cost, annual total, and total due. You will also determine the down payment and balance of gym membership. Your last steps will be to calculate the monthly payment and finalized the workbook.

Instructions:

For the purpose of grading the project you are required to perform the following tasks:

Step	Instructions	Points Possible
1	Download and open the file named exploring_e02_grader_h1.xlsx, and then save the file as exploring_e02_grader_h1_LastFirst. Click OK in the message regarding the circular reference.	0
2	Create a named range for cells A18:C20 named Membership.	5
3	Insert a function to enter the current date in cell B2.	5
4	In cell C5 insert a function to display the basic annual membership cost of the first client.	5
5	Insert a function in cell E5 to calculate total amount. The function should add the cost of membership plus, if applicable, the locker fee. The locker column displays Yes for clients that rent lockers.	7
6	In cell G5 calculate the total due based on the annual total and years of membership in column F.	5
7	Copy the three formulas down their respective columns.	5
8	Insert a function in cell H5 to display the amount of down payment for the first client.	5
9	Locate and correct the circular reference for the balance in cell I5. The balance should be calculated as the difference between total due and the down payment.	7
10	Copy the two formulas down their respective columns.	5
11	Insert a function in cell J5 to calculate the first clients monthly payment. Use appropriate relative and absolute cell references as needed. Make the result a positive number by making the PV argument a negative number.	6
12	Copy the formula down the column.	5
13	Insert a function in cell G14 to total the column.	5
14	Fill the function in cell G14 across the range H14:J14 to add additional totals.	5
15	Insert functions in cells H18:H22 to calculate basic summary information.	7
16	Format the payments in cells H19:H22 with Accounting Number Format.	5
17	Format the column headings on row 4 and 17 to match the fill color in the range E17:H17.	6
18	Format the cells G5:J5 and G14:J14 with Accounting Number Format. Use zero decimal places for whole numbers.	6
19	Apply Comma Style to the range G6:J13. Use zero decimal places for whole numbers.	6
20	Save the file and close Excel. Submit the file as directed.	0
	Total Points	100

This is how to spreadsheet looks like..

Buff and Tuff Gym
Date Prepared:
Client	Membership	Cost	Locker	Annual Total	Years	Total Due	Down Payment	Balance	Monthly Payment
Andrews	Deluxe		Yes		1			0
Baker	Individual		Yes		2			0
Carter	Family		No		3			0
Dudley	Deluxe		No		2			0
Evans	Deluxe		Yes		3			0
Foust	Individual		No		1			0
Gardner	Individual		No		2			0
Hart	Individual		No		3			0
Ivans	Individual		Yes		3			0
Totals
Membership	Cost	Down Payment		Summary Statistics
Deluxe	$ 575	$ 250		Number of New Members
Family	$ 1,500	$ 700		Lowest Monthly Payment
Individual	$ 300	$ 150		Average Monthly Payment
				Maxium Monthly Payment
Locker Fee	$ 75			Median Monthly Payment
Interest Rate	5.75%
Months Per Year	12