New Perspectives Excel 2019 | Module 9: End of Module Project 1 | NP_EX19_EOM9-1 | Canyon Transport
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#New Perspectives Excel 2019 | Module 9: End of Module Project 1
#New Perspectives Excel 2019
#Perspectives Excel 2019
#Excel 2019
#Module 9: End of Module Project 1
#Module 9
#End of Module Project 1
#Module Project 1
#Project 1
#Module 9: End of Module Project
#End of Module Project
#Module Project
#Project
#Instructions_NP_EX19_EOM9-1
#NP_EX19_EOM9-1
#EX19_EOM9-1
#EOM9-1
PROJECT STEPS
1. Elena Gonzalez works in the Operations Department of Canyon Transport, a company providing delivery and shuttle services in Flagstaff, Arizona. Canyon Transport is planning to offer shuttle services to the Phoenix Sky Harbor Airport, and Elena is using an Excel workbook to analyze the financial data for these expanded services. She asks for your help in making financial calculations in the workbook.
Go to the Business Plan worksheet. In the range A2:B29, Elena has already entered expenses, assets, and other information for the new airport shuttle service. Now she needs to make financial calculations in the range E4:H11. In cell E11, enter a formula with the PMT function that uses the rate per quarter (cell E10), the total payments (cell E8), and the business loan amount (cell E4) to calculate the quarterly payment amount for a 10-year loan at a 5.6 percent annual interest rate.
2. In cell F5, enter a formula with the FV function that uses the rate per quarter (cell F10), the total payments (cell F8), the quarterly payment amount (cell F11), and the principal value (cell F4) to calculate the future value of the loan assuming the quarterly payments are limited to $15,000.
3. In cell G8, enter a formula with the NPER function that uses the rate per quarter (cell G10), the quarterly payment amount (cell G11), the amount of the business loan (cell G4), and the future value of the loan (cell G5) to calculate the total number of payments required to repay the $490,000 loan with quarterly payments of $15,000.
4. In cell H4, enter a formula with the PV function that uses the rate per quarter (cell H10), the total payments (cell H8), and the quarterly payment amount (cell H11) to calculate the present value of the loan Canyon Transport can afford if the quarterly payments are $15,000 over a 10-year period.
5. Now Elena asks you to calculate the annual principal and interest payments for the airport shuttle service expansion. Go to the Loan Details worksheet. In cell B9, enter a formula using the CUMPRINC function to calculate the cumulative principal paid for Year 1 (payment 1 in cell B7 through payment 4 in cell B8). Use 0 as the type argument in your formula because payments are made at the start of the period. Use absolute references for the rate, nper, and pv arguments, which are listed in the range A3:G3. Use relative references for the start and end arguments. Fill the range C9:F9 with the formula in cell B9 to calculate the principal paid in Years 2–5 and the total principal.
6. In cell B10, enter a formula using the CUMIPMT function to calculate the cumulative interest paid on the loan for Year 1 (payment 1 in cell B7 through payment 4 in cell B8). Use 0 as the type argument. Use absolute references for the rate, nper, and pv arguments, and use relative references for the start and end arguments. Fill the range C10:F10 with the formula in cell B10 to calculate the interest paid in Years 2–5 and the total interest.
