(1) Use MS Excel or appropriate computational tool to determine the simple interest earnings and the accumulated...
Question:
(1) Use MS Excel or appropriate computational tool to determine the simple interest earnings and the accumulated amount for the scenario given in the worksheet
segment shown below.
Hint: copy or type the worksheet and formulate cells G2 and H2 with the appropriate formulas given below.
=C2 * D2 * E2 formula for cell G2
=G2 + C2 formula for cell H2
A | B | C | D | E | F | G | H | I | |
1 | Simple INT | Principal | Rate | Time | Interest | Accumulated | |||
2 | Question (1) | $520.00 | 6% | 5.25 | ? | ? | |||
3 | annual | years | |||||||
4 |
(2) In your worksheet copy the cell range A1 : H3 and paste the values into the cell range
A4 : H6 . Then use your worksheet and the formula A = P ( 1 + R T ) to determine the unknown rate for the simple interest scenario below.
A | B | C | D | E | F | G | H | I | |
4 | Simple INT | Principal | Rate | Time | Interest | Accumulated | |||
5 | Question (2) | $550.00 | ? % | 8 | $132.00 | $682.00 | |||
6 | annual | years | |||||||
7 |
(3) In a manner similar to the steps performed for the previous question, use your worksheet and the formula A = P + P R T to determine the unknown time
and the unknown accumulated amount for the simple interest scenario below.
A | B | C | D | E | F | G | H | I | |
7 | Simple INT | Principal | Rate | Time | Interest | Accumulated | |||
8 | Question (3) | $720.00 | 5% | ? | $226.80 | ? | |||
9 | annual | years | |||||||
10 |
(4) In a manner similar to the steps performed for the previous question, use your worksheet and the formula A = P ( 1 + R T ) to determine the unknown values for the simple interest scenario below.
A | B | C | D | E | F | G | H | I | |
10 | Simple INT | Principal | Rate | Time | Interest | Accumulated | |||
11 | Question (4) | ? | 3.2% | ? | $220.80 | $910.80 | |||
12 | annual | years | |||||||
13 |
(5) In a manner similar to the steps performed for the previous question, use your worksheet and the formula A = P ( 1 + R T ) to determine the unknown values for the simple interest scenario below.
A | B | C | D | E | F | G | H | I | |
13 | Simple INT | Principal | Rate | Time | Interest | Accumulated | |||
14 | Question (5) | ? |
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill