Grader - Instructions Excel 2022 Project

Exp22_Excel_Ch02_ML2 - Vacation Property

Project Description:
You have been hired as a finance manager at Granger vacation homes, a regional construction company that finances and
builds vacation properties. As part of your responsibilities you manage mortgage applications. Your predecessor left a partially
created document you will use to calculate various details about each property being financed. You will use the VLOOKUP
function to help determine mortgage interest rates, IF statements to calculate down payment, various statistical calculations,
and XLOOKUP to create a quick search within the document.

Steps to Perform:

Points
Step Instructions
Possible

1 Start Excel. Download and open the file named 0

Exp22_Excel_Ch02_ML2_Vacation Property.xlsx. Grader has
automatically added your last name to the beginning of the filename.
2 Write an IF function in cell D9 that calculates the down payment for the 10
mortgage. The down payment is 15% of the purchase price if the
customer is considered high risk or 5% of the purchase price if
considered low risk. The criteria to assess the risk of the loan is based
on the credit score value in cell B6. Be sure to use the appropriate
absolute or mixed cell references when referencing the input values in
the range B4:B6. Then use the fill handle to copy the formula down,
stopping in cell D28.
3 Enter a formula to calculate the percent financed in cell E9. The 10
percent financed is the amount financed/purchase price. Next use the
fill handle to copy the formula down, stopping cell E28.
4 Enter a formula in cell F9 to calculate the amount financed. The 10
amount financed is the purchase price-down payment. After entering
the formula, use the fill handle to copy the formula down, stopping in
cell F28.
5 Use the VLOOKUP function in cell G9 to lookup the mortgage rate 10
based on the customer credit score and the data in the range D4:E6.
Be sure to use the appropriate absolute or mixed cell references. Use
the fill handle to copy the formula down, stopping in cell G28.
6 Calculate the rate per period in cell H9. All mortgages being financed 10
will be paid monthly. After completing the formula, use the fill handle to
copy the formula down, stopping in cell H28.
7 Calculate the total number of payment periods in cell J9 based on the 10
years financed in cell I9. After completing the formula, use the fill
handle to copy the formula down, stopping in cell J28.

Created On: 11/17/2022 1 Exp22_Excel_Ch02_ML2 - Vacation Property 1.2

Grader - Instructions Excel 2022 Project

Points
Step Instructions
Possible

8 Use the PMT function to calculate the total monthly payment in cell 10
K10 based on the periodic interest rate, number of periods, and
amount financed. Ensure the results are a positive value then use the
fill handle to copy the function, down stopping in cell K28.
9 Use Quick Analysis to calculate the total of all payments in cell K29. 8
(Quick Analysis is not available for Mac. If using a Mac, use AutoSum
to calculate the SUM of the range K9:K28).
10 Use the appropriate statistical functions in the range B32:B36 to 6
calculate descriptive statistics based on the row headings in the range
A32:B36. In cell B32, calculate the total count of loans based on
column A, lowest payment in cell B33 based on the data in column K,
highest payment in B34, average payment in B35, and median
payment in B36.
11 Use the XLOOKUP function in cell E32 to lookup the employee 10
number in cell D32 and return the corresponding down payment, %
finances, and amount financed.
12 Use the appropriate function to insert the current date and time in cell 6
B2.
13 Save and close the workbook. Submit the file as directed. 0

Total Points 100

Created On: 11/17/2022 2 Exp22_Excel_Ch02_ML2 - Vacation Property 1.2