You are a part-time assistant in the accounting department at Help-Today Personal Loans, a Cincinnati-based personal loan

Question:

You are a part-time assistant in the accounting department at Help-Today Personal Loans, a Cincinnati-based personal loan company supplying small loans to individuals. You have been asked to use Excel to generate a report that summarizes the existing loan balances (Figure 1). The customer data in Table 2 - 6 is available for test purposes.

Instructions:

Create a worksheet similar to the one shown in Figure 1. Include the three columns of customer data in Table 2 - 6 in the report, plus two additional columns to compute a monthly fee and a current balance for each customer. Assume no negative unpaid monthly balances.

Table 2-6 Help-Today Personal Loans Data

Previous Balance Customer Payments Tolliver, Ralph Jennings, Howard 1,600.72 72.15 382.30 1,518.62 Rivera, Juan 679.29 8

Figure 1

HelpToday Personal Loans Monthly Loan Balance Analysis Previous Customer Balance Payments 72.15 $ Monthly Fee Current Ba

1 Enter and format the worksheet title Help-Today Personal Loans and worksheet subtitle Monthly Loan Balance Analysis in cells Al and A2 Change the theme of the worksheet to the Metropolitan theme Apply the Title cell style to cells Al and A2. Change the font size in cell Al to 28 points. Merge and center the worksheet title and subtitle across columns A through E. Change the background color of cells Al and A2 to the Orange standard color. Change the font color of cells Al and A2 to the White theme color. Draw a thick box border around the range Al:A2.
2. Change the width of column A to 19.00 points. Change the widths of columns B through E to 15.00 points. Change the heights of row 3 to 36.00 points and row 14 to 25.50 points.
3. Enter the column titles in row 3 and row titles in the range A13:Al6, as shown In Figure 2 - 73. Center the column titles in the range A3:E3. Apply the Heading 3 cell style to the range A3:E3. Apply the Total cell style to the range A13:E13. Bold the titles k the range A13A16. Change the font size in the range A3:E16 to 12 points.
4. Enter the data in Table 2 - 6 in the range A4:C12.
5. Use the following formulas to determine the monthly fee in column D and the current balance in column E for the first customer. Copy the two formulas down through the remaining customers.
a. Monthly Fee (cell D4) = 5% * Previous Balance
b. Current Balance (E4) = Previous Balance - Payments + Monthly Fee
6, Determine the totals in row 13.
7. Determine the average, minimum, and maximum values in cells B14:B16 for the range B4B12, and then copy the range B14:B16 to C14:E16.
8. Format the numbers as follows: (a) assign the currency style with a floating dollar sign to the cells containing numeric data in the ranges B4:E4 and B13:E16, and (b) assign a number style with two decimal places and a thousand's separator (currency with no dollar sign) to the range B5:E12.
9. Use conditional formatting to change the formatting to white font on a purple background in any cell in the range D4:D12 that contains a value greater than 50.
10. Change the worksheet name from Sheet1 to Loan Balance and the sheet tab color to the Orange standard color.
Change the document properties, as specified by your instructor. Change the worksheet header with your name, course number, and other information as specified by your Instructor.
11. Spell check the worksheet. Preview and then print the worksheet in landscape orientation. Save the workbook using the file name, Lab 2-1 Help-Today Personal Loans Report
12. Print the range A3:D13. Print the formulas version on another page. Close the workbook without saving the changes. Submit the assignment as specified by your instructor.
13. When you created the formula for the monthly fee, you used 5%. What would you have to do if the rate changed today to, say, 10% to update the formulas?