Exp19_Excel_Ch02_ML2_SmartPhone
You have just graduated from college and before beginning your first professional job, you would like to purchase a new smartphone. You have the option to purchase the new phone in one payment or make monthly payments by taking advantage of a 36 month flex payment plan. The payment plan charges an APR of 1.75% for the service. Prior to making your payment decision, you would like to make a worksheet to calculate the monthly payment for consumer reports top three smartphones for young professionals.
Start Excel. Download and open the file named Exp19_Excel_Ch02_Assessment_SmartPhone.xlsx. Grader has automatically added your last name to the beginning of the filename.
Rename Sheet 1 FlexPay.
Hint: Double-click the sheet name tab to rename the worksheet.
Type Flex Pay Calculator in cell A1, and then merge and center the title on the first row in the range A1:C1. Apply bold, 20 pt font size, Blue, Accent 1, font color.
Merge and center the range A2:C2, type Inputs, and apply Thick Outside Borders. Note, Mac users, apply Thick Box Border.
Type APR and # of payments in the range A3:A4.
Type 1.75% in cell B3 and 36 in cell B4. Merge and center the range A6:C6, type Outputs, and apply Thick Outside Borders.
Type Model in cell A7, Price in cell B7, and Payment in cell C7.
Type iphone x in cell A8, Samsung Galaxy in cell A9, and LG V30 in cell A10. Enter the corresponding prices 949, 799, and 650 in the range B8:B10 and apply Currency Number Format. Resize column A as needed to display all text.
In cell C8, enter a PMT function to calculate the monthly flex payment for the first option. Be sure to use the appropriate absolute, relative, or mixed cell references. Use the fill handle to copy the function down through cell C10. Make sure each of the monthly flex payments is a positive value.
Type Highest payment, Average payment, and Lowest payment in the range A12:A14.
In cell B12, use the MAX function to calculate the highest flex payment, in cell B13, use the AVERAGE function to calculate the average flex payment, and in cell B14, use the MIN function to calculate the lowest flex payment.
Insert a footer with your name on the left side, the sheet name in the center, and the file name code on the right side of the worksheet.
Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed.
