1. Using Microsoft Excel, OpenOffice Calc or Google Sheets, create a spreadsheet using the bank data...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
1. Using Microsoft Excel, OpenOffice Calc or Google Sheets, create a spreadsheet using the bank data below and following steps. (Yearly) interest is applied to a balance. A surcharge is applied to each balance after interest. Client Balance ($) Interest (%) Surcharge ($) Jerry 1602 5.5 80 Xiao 29013 1.9 120 Hector 7542 4.25 75 Angela 7433 3.33 55 Lori 100949 2.25 220 Create a column "Y1" of the forecast balance of each of the clients after 1 year, where each client earns (1 year of) compound interest, but is deducted a surcharge (after interest). (a) (b) Create a column "Y2" of the forecast balance of each of the clients after 2 years, where each client earns (2 years of) compound interest (but no surcharge is deducted). (c) Create a column "Y5" of the forecast balance of each of the clients after 5 years, where each client earns (5 years of) compound interest (but no surcharge is deducted). (d) Create a column "Crash Balance" of the balance of each of the clients after a stock market crash, a value equal to 75% of the original balance if that original balance is equal to or more than $60,000 and 47.5% otherwise. (e) Create a column "Y1-3" of the forecast balance of each of the clients 3 years after the crash (using the "Crash Balance" rather than the original balance), where each client still earns (3 years of) compound interest, but is deducted only 85% of the surcharge (after interest). (f) Create a row "Totals" of the totals of each of the numerical (not "Client") columns. (g) Create a row "Means" of the averages of each of the numerical (not "Client") 1. Using Microsoft Excel, OpenOffice Calc or Google Sheets, create a spreadsheet using the bank data below and following steps. (Yearly) interest is applied to a balance. A surcharge is applied to each balance after interest. Client Balance ($) Interest (%) Surcharge ($) Jerry 1602 5.5 80 Xiao 29013 1.9 120 Hector 7542 4.25 75 Angela 7433 3.33 55 Lori 100949 2.25 220 Create a column "Y1" of the forecast balance of each of the clients after 1 year, where each client earns (1 year of) compound interest, but is deducted a surcharge (after interest). (a) (b) Create a column "Y2" of the forecast balance of each of the clients after 2 years, where each client earns (2 years of) compound interest (but no surcharge is deducted). (c) Create a column "Y5" of the forecast balance of each of the clients after 5 years, where each client earns (5 years of) compound interest (but no surcharge is deducted). (d) Create a column "Crash Balance" of the balance of each of the clients after a stock market crash, a value equal to 75% of the original balance if that original balance is equal to or more than $60,000 and 47.5% otherwise. (e) Create a column "Y1-3" of the forecast balance of each of the clients 3 years after the crash (using the "Crash Balance" rather than the original balance), where each client still earns (3 years of) compound interest, but is deducted only 85% of the surcharge (after interest). (f) Create a row "Totals" of the totals of each of the numerical (not "Client") columns. (g) Create a row "Means" of the averages of each of the numerical (not "Client")
Expert Answer:
Answer rating: 100% (QA)
Y1 Y2 Y5 Crash Bal Y13 161011 178783 210776 76095 82912 2944424 30135... View the full answer
Related Book For
Accounting Information Systems
ISBN: 978-0133428537
13th edition
Authors: Marshall B. Romney, Paul J. Steinbart
Posted Date:
Students also viewed these accounting questions
-
Create a spreadsheet with the following columns: Plaintext character ASCII code (7-bits, binary number) First bit Second bit Third bit Fourth bit Fifth bit Sixth bit Seventh bit Number of bits with...
-
Lori Waverly works for MRK all year and earns a monthly salary of $12,000. There is no overtime pay. Loris income tax withholding rate is 20% of gross pay. In addition to payroll taxes, Lori elects...
-
Lori Waverly works for MRK all year and earns a monthly salary of $11,700. There is no overtime pay. Lori's income tax withholding rate is 20% of gross pay. In addition to payroll taxes, Lori elects...
-
Dale and Roy formed a partnership early this year. Dale contributed $150,000 cash in exchange for a 50% interest in the partnership. Roy contributed land with a tax basis of $90,000, and a fair...
-
The home office billing department of a chain of department stores prepares monthly inventory reports for use by the stores purchasing agents. Given the following information, use the critical path...
-
A two-person shoe repair operation uses a two-step sequence that all jobs follow (first work centre A then work centre B). For the group of jobs listed below, a. Find the sequence that will minimize...
-
Presented below are selected financial data from the 2015 annual report of the Bristol-Myers Squibb Company: Required Using the ratio definitions from Exhibit 4.6, calculate the financial ratios for...
-
Is Facebook just a passing fad or is it here to stay? What are the companys greatest strengths and risks?
-
On January 1, 2027, the stockholders' equity section of Sandhill Corporation shows common stock ($5 par value) $1,500,000; paid-in capital in excess of par $1,100,000; and retained earnings...
-
Mack Banta, a nonexempt account representative, worked extra hours this week as a call operator. A number of operators were out for the week and Banta was asked to pick up some of their hours. Can...
-
You have a 190-2 resistor and a 0.370-H inductor. Suppose you take the resistor and inductor and make a series circuit with a voltage source that has a voltage amplitude of 34.0 V and an angular...
-
A financial institution currently holds a $1 million bond investment priced at 95% with 2 years remaining to maturity. It is likely that if the bond yield continues to decline the price of the bond...
-
does escherichia coli produce acid or alkaline result? How
-
Please work on this document and share back with me as soon as work on it. The below is a picture of what the working excel document looks like. Calculate the taxable income, portion of TI that is...
-
If a cell was experiencing stress and protein degradation, what type of thermodynamic reaction would it run to build or repair protein? Would this reaction require energy? What energy coupling...
-
A buyer is getting a fully amortized loan for $220,000 in the bank will give the buyer the alarm for 15 years at 5 1/2% for 30 years at 6 1/2% to the nearest cent what is the buyers difference?
-
(2023-2024 SPRING/OPERATIONS RESEARCH-I) Within the scope of the seven steps to a good operations research analysis; a. Write an original text containing information about a problem that needs to be...
-
The financial statements of Eastern Platinum Limited (Eastplats) are presented in Appendix A at the end of this textbook. Instructions (a) Does East plats report any investments on its statement of...
-
You were asked to investigate extremely high, unexplained merchandise shortages at a department store chain. Classify each of the five situations as a fraudulent act, an indicator of fraud, or an...
-
PWR manufactures precision nozzles for fire hoses. Ronald Paige, an engineer, started the corporation and it has experienced steady growth. Reporting to Ronald are six vice presidents representing...
-
The relational data model represents data as being stored in tables. Spreadsheets are another tool that accountants use to employ a tabular representation of data. What are some similarities and...
-
The Tomoegawa Paper Company Ltd. (TPC) is a well-known public company headquartered in Tokyo, Japan. In TPCs annual report, the company revealed that it had changed its method of depreciating its...
-
Under U.S. GAAP, a company may capitalize any interest costs associated with borrowings used in the self-construction of a business asset. Any capitalized interest is added to the cost basis of the...
-
Depreciation, depletion, and amortization are allocation processes that distribute the acquisition cost of an asset to the many periods of the assets expected useful life. Discuss how these processes...
Study smarter with the SolutionInn App