Question
Real Estate Workbook - You are interning at Schalow Real Estate firm. Your supervisor has asked you to cleanse the data in a spreadsheet so
Real Estate Workbook - You are interning at Schalow Real Estate firm. Your supervisor has asked you to cleanse the data in a spreadsheet so that she can analyze it and look for trends. She asks that you create new columns as directed. Format all currency spreadsheet values using the Currency Number Format, and display two decimal places. Fill all formula and functions through the appropriate rows.a.
On the Sold worksheet, create a column named Price/SqFt in column N, and then create a formula to calculate the price per square foot based on of the square foot-age and the price sold.
Create a column named Down PMT, and then create a formula that will calculate a down payment of 20% of the sold price.
Create a column named Days on MKT, and then create a formula to calculate the number of days each property was on the market.
Create a column named Monthly Payment. Create a formula to calculate the monthly mortgage payment for each property. With a mixed reference, use the interest rate found in cell V2. With a mixed reference, use the term in cell W2. Deduct the down payment from the sold price to calculate the amount financed. Edit the function to display positive numbers.
Create a column named Monthly Taxes. Each development has a different tax rate. Use a lookup function to look up the Development ID from the Sold worksheet, and determine that developments Tax Rate from the Development worksheet. Then, to determine the actual tax, multiply the tax rate by the sold price, and divide the tax by 12. This will determine the amount to save each month to pay the taxes at the end of the year (Month Tax). To reference a lookup table on a different worksheet, click on the worksheet tab that contains the lookup table, select the range, type a comma (,), and then click the original worksheet tab.
Create a column named Monthly Insurance. The cost to insure homes is different in different neighborhoods. Use a lookup function to look up the Development ID and determine that developments Insurance Rates from the Development worksheet. Then multiply the insurance rate by the sold price, and divide by 12 to determine the monthly payment.
Create a column named Total Payment. Add the monthly tax and insurance to the monthly payment to determine how much the homeowner needs to live in the newly purchased home.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Managerial Accounting
Authors: Ray Garrison
12th Edition
B002ODFC0E
