Save Fri 19 9:52 PM 2 Chapter 10-5 401k Instructions (1) Saved to Me a Insert Draw Design Layout References Mailings Review View Zotero Commer Asial 14 A A A A ABCD ABDI Heading Style Pane Office Update To keep up-to-date with security updates, fes, and improvements, choose Check for Updates Check for Updal Chapter 10-5 401k Project Description: In this problem, you will calculate the total deposit into the 401(k) account and determine the percentage of the company's match in the 401(k) account Steps to Perform: Points Possible Step Instructions 0 1 4 2 4 3 Start Excel. Download and open the workbook named: Chapter_10-5_401k_Start In cell C10, calculate 6% of the annual salary given in cell C5. Format cell C10 as Currency with 2 decimal places. In cell C11, calculate 6% of the monthly salary. Format cell C11 as Currency with 2 decimal places In cell C13, use the IF function to calculate the company's match if your monthly deposit is in cell C6. Format cell C13 as Currency with 2 decimal places. In cell C18, calculate the total deposit into the 401(k) account. Format cell C18 as Currency 4 4 5 B Emphasil Heading Heading 2 Normande nto To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates TUTTUU ES Chapter_10-5_401k_Start 2 In cell C10, calculate 6% of the annual salary given in cell C5. Format cell C10 as Currency with 2 decimal places. 3 4 In cell C11, calculate 6% of the monthly salary. Format cell C11 as Currency with 2 decimal places. In cell C13, use the IF function to calculate the company's match if your monthly deposit is in cell C6. Format cell C13 as Currency with 2 decimal places. 5 In cell C18, calculate the total deposit into the 401(k) account. Format cell C18 as Currency with 2 decimal places. 6 7 In cell C19, calculate the percentage of the company's match in the total deposit. Format cell C19 as Percentage with 1 decimal place. In cell C21, enter the maximum possible value for the percentage in parte given the constraints of the problem. Format cell C21 as Percentage with 1 decimal place. Save your file and submit for grading. 0 8 Total Points 24 D E F G . 1 401k 2 3 4 5 Annual Salary: Monthly Deposit: $45,000.00 $200.00 Your company offers a 401(k) plan for retireme The spreadsheet gives your annual salary and m match into your 401(k) will be. We will break th 8 9 10 11 12 13 Annual 6%: Monthly 6%: a.) First, compute 6% of your annual salary and E Company Match: b.) 14 b.) Notice that your monthly deposit does not hay equal to the 6% amount, THEN the company will IF formula which computes the company match. F 15 16 17 Total Deposit: Percentage: c.) Compute the total deposit into your account an with 2 decimal places and as a percentage to 1 deci Salary: d.) 18 19 20 21 22 23 24 25 26 d.) What is the maximum possible value for the per decimal place. M N O Your company offers a 401(k) plan for retirement which will match 50% of money you deposit in your 401(k) up to 6% of your total salary. The spreadsheet gives your annual salary and monthly deposit into your 401(k). Ultimately we would like to know what the company's match into your 401(k) will be. We will break this problem into parts and proceed in steps. a.) First, compute 6% of your annual salary and 6% of your monthly salary. Format as currency with 2 decimal places. b.) Notice that your monthly deposit does not have to be the same as 6% of your monthly salary. If your monthly deposit is less than or equal to the 6% amount, THEN the company will match half of your deposit; ELSE the company will match half of the 6% amount. Enter an IF formula which computes the company match. Format as currency with 2 decimal places. c.) Compute the total deposit into your account and what percentage of this total deposit is from the company match. Format as currency with 2 decimal places and as a percentage to 1 decimal place. d.) What is the maximum possible value for the percentage in parte given the constraints of the problem? Enter as a percentage with 1 decimal place. Save Fri 19 9:52 PM 2 Chapter 10-5 401k Instructions (1) Saved to Me a Insert Draw Design Layout References Mailings Review View Zotero Commer Asial 14 A A A A ABCD ABDI Heading Style Pane Office Update To keep up-to-date with security updates, fes, and improvements, choose Check for Updates Check for Updal Chapter 10-5 401k Project Description: In this problem, you will calculate the total deposit into the 401(k) account and determine the percentage of the company's match in the 401(k) account Steps to Perform: Points Possible Step Instructions 0 1 4 2 4 3 Start Excel. Download and open the workbook named: Chapter_10-5_401k_Start In cell C10, calculate 6% of the annual salary given in cell C5. Format cell C10 as Currency with 2 decimal places. In cell C11, calculate 6% of the monthly salary. Format cell C11 as Currency with 2 decimal places In cell C13, use the IF function to calculate the company's match if your monthly deposit is in cell C6. Format cell C13 as Currency with 2 decimal places. In cell C18, calculate the total deposit into the 401(k) account. Format cell C18 as Currency 4 4 5 B Emphasil Heading Heading 2 Normande nto To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates TUTTUU ES Chapter_10-5_401k_Start 2 In cell C10, calculate 6% of the annual salary given in cell C5. Format cell C10 as Currency with 2 decimal places. 3 4 In cell C11, calculate 6% of the monthly salary. Format cell C11 as Currency with 2 decimal places. In cell C13, use the IF function to calculate the company's match if your monthly deposit is in cell C6. Format cell C13 as Currency with 2 decimal places. 5 In cell C18, calculate the total deposit into the 401(k) account. Format cell C18 as Currency with 2 decimal places. 6 7 In cell C19, calculate the percentage of the company's match in the total deposit. Format cell C19 as Percentage with 1 decimal place. In cell C21, enter the maximum possible value for the percentage in parte given the constraints of the problem. Format cell C21 as Percentage with 1 decimal place. Save your file and submit for grading. 0 8 Total Points 24 D E F G . 1 401k 2 3 4 5 Annual Salary: Monthly Deposit: $45,000.00 $200.00 Your company offers a 401(k) plan for retireme The spreadsheet gives your annual salary and m match into your 401(k) will be. We will break th 8 9 10 11 12 13 Annual 6%: Monthly 6%: a.) First, compute 6% of your annual salary and E Company Match: b.) 14 b.) Notice that your monthly deposit does not hay equal to the 6% amount, THEN the company will IF formula which computes the company match. F 15 16 17 Total Deposit: Percentage: c.) Compute the total deposit into your account an with 2 decimal places and as a percentage to 1 deci Salary: d.) 18 19 20 21 22 23 24 25 26 d.) What is the maximum possible value for the per decimal place. M N O Your company offers a 401(k) plan for retirement which will match 50% of money you deposit in your 401(k) up to 6% of your total salary. The spreadsheet gives your annual salary and monthly deposit into your 401(k). Ultimately we would like to know what the company's match into your 401(k) will be. We will break this problem into parts and proceed in steps. a.) First, compute 6% of your annual salary and 6% of your monthly salary. Format as currency with 2 decimal places. b.) Notice that your monthly deposit does not have to be the same as 6% of your monthly salary. If your monthly deposit is less than or equal to the 6% amount, THEN the company will match half of your deposit; ELSE the company will match half of the 6% amount. Enter an IF formula which computes the company match. Format as currency with 2 decimal places. c.) Compute the total deposit into your account and what percentage of this total deposit is from the company match. Format as currency with 2 decimal places and as a percentage to 1 decimal place. d.) What is the maximum possible value for the percentage in parte given the constraints of the problem? Enter as a percentage with 1 decimal place