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Please show all formulas used for Savings Balance, Interest Earned, Savings New Balance, Checking Balance, Transfer Amount, and Checking New Balance for the first 3
Please show all formulas used for Savings Balance, Interest Earned, Savings New Balance, Checking Balance, Transfer Amount, and Checking New Balance for the first 3 rows of the data table.
The worksheet should be setup as shown at the end of this document. Allow the user to change the initial balance of the accounts, any transaction information, or the interest table and have the entire spreadsheet update. Savings New Balance is the Savings Balance, plus or minus the Transaction Amount, plus the Interest Earned. Checking New Balance is Checking Balance plus or minus the Transaction Amount plus the Transfer Amount. You will need to write a calculation for Savings Balance, Interest Earned, Savings New Balance, Checking Balance, Transfer Amount, and Checking New Balance. The interest table determines what interest rate a Savings account earns based on that account's balance. There are three brackets: High, Mid, and Low. In the example below, you earn 2.00% interest if you have at least $10,000.01 in your account, you earn 1.00% interest if you have at least $5,000.01 in your account, and you earn 0.50% interest otherwise. Interest is calculated before a transaction is applied. You must reference the table in the interest calculation so that any changes to the table will change your calculations automatically. The Checking account does not earn interestStep by Step Solution
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