In this project, you will realize that you really need to invest in a new computer to complete course assignments for the school’s use. You will create a worksheet, use the PMT function, and format a worksheet to show a comparison of two electronic computers that you are interested in purchasing. You will make a comparison of the two items and determine which one is feasible to purchase.
The Excel PMT function is used to calculate the payment for a loan based on constant payments and a constant interest rate.
Click here for more information on how to use the PMT function.
To complete this assignment, perform the following tasks:
Start a new blank worksheet. Open the Excel workbook and save the worksheet as “FirstInital_LastName_ChartsIPA03.xlsx.”
Click in cell A1 and type the title, “School Computer Purchase Analysis.”
Data has been provided for you to generate a payment for each of the two products to help determine which product is feasible for you to purchase for school purposes. Click hereto access the data.
The loan parameters have been entered into the worksheet, and you are ready to work with the PMT function. Click in cells B8 and E8 to calculate the amount to finance.
Save the workbook as “FirstInitial_LastName_Purchase_solution.”
Click in cells B10 and B11 to produce a formula using the PMT function.
Hint: Click Insert function and select PMT for payment.
Merge and center the titles in Cells A1:E1. Format your worksheet by including color as well as providing an appropriate clip art to accent the document.
Click in cell A27 and enter your name and use the Today function in cell A28.
Click in cell A18 and use a formula to show the comparison in the two monthly payments, and describe which payment would be more feasible for a new college student to afford.
Indent the content in cells A9:A14 and show the Payment amount in font size 14.
Indent the content in cells D9:D14 and show the Payment amount in font size 14.
Save the School Computer Purchase Analysis spreadsheet. Submit the School Computer Purchase Analysis spreadsheet.
Reference
Microsoft. (n.d.). PMT function. Retrieved from http://office.microsoft.com/en-us/excel-help/pmt-function-HP010342769.aspx?CTT=5&origin=HA010342655
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