MGM272

Business Applications of Technology

Assignment / Project   Number  10

Financial Functions and Excel Tools

How is this project graded?

This project, like the others, is graded on the basis of a maximum ten points.    

Remember that there are several goals for the project, including working with formulas and working with financial functions and/or Excel tools.  

If you did not use formulas to create the table of data, or if there was no evidence that you did, or if your table was not sufficient or not sufficiently general, then you probably lost about seven points, but possibly more depending on the circumstance.  "Sufficiently general" means that your instructor could change the interest rate number, the total loan number, and/or the monthly payment number in your spreadsheet and still see a valid repayment schedule, though not necessarily one that resulted in a zero balance.

If your table did not contain a monthly payment value that resulted in a zero balance at the end, you may have lost five points.

If you tried to make a monthly payment including fractions of cents, you lost nothing, but next semester you will lose a point.

If you tried to cheat the bank out of a fraction of cents, you lost one point, but next semester you will lose two.  (This requires a ROUNDUP function -- but only in the proper place.)

If your formulas were each typed separately rather than being copied from row to row, or if there was no evidence that you did copy them, then you may have lost one point as well as wasting a lot of time.

You needed to turn in the following to the instructor on the date this assignment is due (check the class schedule):
  1) PRINTOUT #1:  A printed copy of your spreadsheet, showing a correct loan payment schedule.
  2) PRINTOUT #2:  A printed copy of your spreadsheet, showing showing the formulas in each cell.
  3) DISK FILE:  A copy of the disk file on which you have saved your spreadsheet. 
       The name of the file on the disk should be "payments.xls"
       The label on the disk should have YOUR NAME, and the words:
       ASSIGNMENT #10 -- LOAN PAYMENT SCHEDULE
  4) OTHER:  The above items are all that is required for this assignment.