Description
In Major Assignment 1, you created a monthly budget, which included a recurring cost for utilities.Here, you’ll consider making some energy-saving home improvements and compare your potential savings against paying off the cost of those improvements.
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Major Assignment 2 Grading Sheet
Competency
Name
Requirements for full credit
You have entered your full name in the field provided.
The interest rates you have entered come from the mortgage rates table and
match those for the months and years provided.
You have explicitly formatted the cells to display as Percentage with 2
decimal places of precision.
Your Electric, Gas, Water, and Other entries are reasonable values, with at
least two nonzero entries. For zero entries, you have explicitly entered
values of 0.
Monthly Costs
Your Total Cost and Monthly Savings formulas are correct and use
and Savings
appropriate cell references.
All cost cells are formatted as Currency showing the $ symbol and with 2
decimal places of precision.
You have brought forward your monthly savings amount, using Excel
formulas.
Your number of contributions per year and number of years entries are
correct.
Savings and
Savings Table
Your formulas for total amount saved, total contributions, and total accrued
Loan Analysis
interest are correct and use cell references.
All cells are explicitly formatted with the format given in the last column of
the table.
You have entered the correct number of contributions per year and number
of years.
Interests
Rates
Loan Table
Your formulas for payment amount, total amount paid, and total amount of
interest paid are correct and use cell references as inputs.
All cells are explicitly formatted with the format given in the last column of
the table.
You have correctly brought forward your savings and loan amounts, using
cell references.
Your savings and loan cells are explicitly formatted with the format given in
Comparison
the last column of the table.
You have answered the comparison questions correctly, answering either
“yes” or “no” for each one.
Your reference CPI is correct for the month and year given.
Your next-year CPI, month, and year are correct.
Inflation Rate
Your inflation rate calculation is correct.
Calculation
Your CPI values and inflation rate are explicitly formatted as indicated in the
instructions.
Budget Cost
Projection
Budget Cost
Projection
Budget
Projections
Monthly
Savings
Conversions
You have correctly entered your Budget Total from cell G21 of the Monthly
Budget sheet from your Major Assignment 1.
Your “value of t” entries are correct.
Your 1-year, 5-year, and 10-year projections are correct Excel formulas using
cell references.
Your percent increase calculations are correct Excel formulas using cell
references.
Your Current Budget, Projected Budget and Percent Increase cells are
formatted as indicated in the instructions.
You have brought forward your monthly savings amount from the Savings
and Loan Analysis sheet, using an Excel formula with a sheet and cell
reference.
You have entered the first two letters of your first and last names, using the
letter M if one or both names consist of only one letter.
You have chosen appropriate countries from the list provided below the
table, using the procedure described in the instructions.
You have entered the date(s) on which you looked up the exchange rates for
your currencies, and all dates are within 2 weeks of the due date of your
assignment.
You have entered both the full name of your country’s currency and the
correct currency code as indicated on the website.
Currency You have provided each exchange rate to at least 5 significant digits, and the
Conversions exchange rate matches the rate for the date you looked it up.
Your savings amount in the foreign currency is a correct Excel formula, using
cell references.
Your calculation of the value of foreign currency units into dollars are correct
Excel formulas, using cell references. (Note that the amount to convert is
autogenerated and may differ from the amount shown in assignment
resources.)
The cells containing your dates, savings amounts, and value of foreign
currency converted to dollars are correctly formatted as specified in the last
column of the table.
nt 2 Grading Sheet
(optional for
student use) Did
you meet the
requirements?
Points
Your points
possible
1
3
3
4
4
6
3
6
18
18
6
18
15
6
6
3
Subtotals
120
1
3
3
3
0
Scoring comments
2
3
6
6
7
Subtotals
34
0
2
4
4
4
8
4
8
8
12
Subtotals
54
0
Totals
208
0
Percentage
100.00%
0.00%
Scaled out of
100
100.00
0.00
1 In Major Assignment 1, you created a monthly budget, which included a recurring cost for utilities. Here, you’ll consider
off the cost of those improvements.
Below, you’ll start by entering and adding up the costs of your electric, gas, water, and other energy utilities. Then, give
the next 5, 10, and 15 years if you contribute your monthly savings into an account with a given APR. Here, you’ll use the f
per year for t years and earning interest at an annual percentage rate of r, the total amount A accrued after t years is give
A = P*((1+r/n)^(n*t)
Next, you’ll develop a cost to install energy-efficient improvements (installing energy-efficient doors and windows, adding in
payment if you were to finance the installation cost by a loan of 5, 10, or 15 years. Here, you will use this formula: give
off the loan with n payments per year for t years (with payments made at the end of each period) is given by (in Excel forma
PMT = P*(r/n)/(1
For all the above calculations, you will look up rates in the following historical table of 30-year fixed mortgage rates, based
http://www.freddiemac.com/pmms/
(Mortgage Rates
Assignment Advisory: You must use the la
2 Enter your full name here
provided free by GCU; contact the Help Desk
version of Excel or a different spreadsheet prog
from or into this tem
(If fewer than 9 letters, add additional
arbitrary letters)
Savings
3 Look up three interest rates from
the historical mortgage rate table,
formatting them as Percentage with 2
decimal places. Make sure to enter
these as percentage values. For
example, 4.03 in the table is 4.03% or
0.0403.
APR Year
Your full name entry must be
longer
APR Month
Your full name entry must be
longer
Interest Rate
Electric
Gas
4 Enter, or estimate, your monthly
utility costs, then calculate your total
monthly cost and monthly savings.
Format all cells as Currency showing
the $ symbol and with 2 decimals of
precision.
Water
Other
Total Cost
4 Enter, or estimate, your monthly
utility costs, then calculate your total
monthly cost and monthly savings.
Format all cells as Currency showing
the $ symbol and with 2 decimals of
precision.
Monthly Percent Savings
Complete the first interest rate
entry in section 3 above
Monthly Savings (total cost times
percent savings)
5 Complete this table for your 5-year,
10-year, and 15-year savings
Contribution amount (P)
(Bring forward your Monthly Savings
amount, using a formula, for each
entry)
APR from the table (r)
Calculation #1
(5-year savings)
Calculation #2
(10-year savings)
Complete the second interest rate
entry in section 3 above
Complete the second interest
rate entry in section 3 above
Number of contributions per year (n)
Number of years (t)
Total amount saved (A):
Total contributions:
Total accrued interest:
Loan
6 Continue by completing this table
for your 5-year, 10-year, and 15-year
loans, based on the principal and
interest rates given with monthly
payments
Calculation #1
(5-year loan)
Calculation #2
(10-year loan)
Loan principal (P)
Your full name entry must be
longer
Your full name entry must be
longer
APR from the table (r), with a slightly
higher rate for longer loans
Complete the third interest rate
entry in section 3 above
Complete the third interest rate
entry in section 3 above
Number of contributions per year (n)
Number of years (t)
Payment amount (PMT):
Total amount paid over the time of the
loan:
Total amount of interest paid:
Comparison
7 Use Excel formulas to transfer your
amounts from above
Total savings from energy
improvements
Total loan payments
Have you broken even at this point
(yes or no)? (“Breaking even” here
means that your total savings outweigh
your total loan payments.)
After 5 years
After 10 years
ties. Here, you’ll consider making some energy-saving home improvements and compare your potential savings against paying
gy utilities. Then, given a percent savings due to your energy-saving improvements, you’ll calculate how much you’ll save over
PR. Here, you’ll use the following formula for your calculations: given an amount P contributed at the end of each of n periods
rued after t years is given by (in Excel format):
A = P*((1+r/n)^(n*t)-1)/(r/n)
ors and windows, adding insulation, upgrading to more efficient appliances or lights, and so on) and then calculate a monthly
use this formula: given a loan principal amount P and an annual interest rate of r, the payment amount PMT required to pay
is given by (in Excel format):
MT = P*(r/n)/(1-(1+r/n)^(-n*t))
ed mortgage rates, based on the years and months specified in step 6 below.
w.freddiemac.com/pmms/pmms30.html
Mortgage Rates)
sory: You must use the latest desktop version of Excel for Microsoft 365 for this assigment. (This is
CU; contact the Help Desk for more information and help installing the software.) Using an earlier
ifferent spreadsheet program may result in missing or corrupted template elements. Copying cells
from or into this template may likewise result in corrupted data.
Your full name entry must be
longer
Your full name entry must be
longer
Your full name entry must be
longer
Your full name entry must be
longer
Legend
If a cell is shaded
You should
Blue
Enter a text response
Green
Enter a number
Gold
Enter an Excel formula
Any other color
Calculation #3
(15-year savings)
Format the entries in each
row as…
…Currency with 2 decimal
places
Complete the second interest
rate entry in section 3 above
…a Number with 0 decimal
places
…a Number with 0 decimal
places
…Currency with 2 decimal
places
…Currency with 2 decimal
places
…Currency with 2 decimal
places
Calculation #3
(15-year loan)
Format the entries in each
row as…
Your full name entry must be
longer
Complete the third interest rate
entry in section 3 above
…a Number with 0 decimal
places
…a Number with 0 decimal
places
…Currency with 2 decimal
places
Make no changes
…Currency with 2 decimal
places
…Currency with 2 decimal
places
After 15 years
Format the entries in each
row as…
…Currency with 2 decimal
places
…Currency with 2 decimal
places
against paying
ou’ll save over
ch of n periods
te a monthly
quired to pay
Your name (brought forward from the
Savings and Loan Analysis sheet):
0
8 On the Monthly Budget sheet in Major Assignment 1, you evaluated your current expenses. Here, you will project your bu
rate that you develop from values in the Consumer Price Index.
As a first step, look up the CPI value for the given month and year as well as the CPI value one year later; then, calculate
values. Use this procedure to look up the CPI value:
1. Go to Bureau of Labor Statistics page link https://data.bls.gov/cgi-bin/surveymost?cu (or use link below)
2. Check the box to the left of text “U.S. city average, All items – CUUR0000SA0”
3. Press the “Retrieve Data” button at the bottom of the list. This should take you to a CPI table for about th
Here, format your CPI entries as Number with 3 decimals of precision, and format your yearly inflation rate as a Percentage w
(CPI Values)
CPI Value
Month
Your full name entry must
be longer
Reference CPI
CPI one year later
Yearly inflation rate (r)
9 Next, enter your budget total from cell G21 of the Monthly Budget sheet from your Major Assignment 1. Then, use the fo
formula to project your monthly budget forward 1, 5, and 10 years into the future:
A = B*(1+r)^t
where A is the budget after t years; B is the initial budget; and r is the yearly inflation rate. Here, also calculate how m
budget is in percent than your initial budget. Format your Projected Budget entries as Currency with the $ symbol and 2 dec
precision; format your Percent Increase cells as Percentages with 2 decimals of precision.
Value of t
Current Monthly Budget (B)
Monthly Budget next year
Monthly Budget in 5 years
Monthly Budget in 10 years
Projected Budget
ent expenses. Here, you will project your budget costs forward, using an inflation
CPI value one year later; then, calculate a yearly inflation rate based on those CPI
bin/surveymost?cu (or use link below)
CUUR0000SA0″
s should take you to a CPI table for about the last 10 years.
t your yearly inflation rate as a Percentage with 2 decimals of precision.
Year
Your full name entry
must be longer
m your Major Assignment 1. Then, use the following
Legend
If a cell is shaded
You should
Blue
Enter a text response
Green
Enter a number
Enter an Excel
formula
Make no changes
Gold
Any other color
tion rate. Here, also calculate how much larger each
ies as Currency with the $ symbol and 2 decimals of
Percent Increase over
Current Budget
10 On this second conversion sheet, you will convert your monthly savings into the equivalent amounts in several foreign
amount of the local currency into the equivalent number of US dollars.
Start by transferring your monthly savings from the Savings and Loan Analysis sheet, using an Excel formula that reference
Your monthly savings in dollars
11 Now, from the list below the table below, select four countries that start with the first two
letters of your first and last names. If your first or last name is only one letter long, use the letter
M as the second letter of each name that is one letter long. If there is no country starting with a
particular letter or you have run out of countries to choose from for a particular letter, go to the
next letter of the alphabet that you still have available choices for and select a country starting
with that letter. (If you are at the letter Z, go back to A.)
For each country, identify the name of the country’s currency, the currency code (based on the ISO-4217 standard), and th
following web page: https://www.xe.com/currencyconverter
(Currency Converter)
Then, convert your monthly savings above into this currency and a given number of units of the local currency into dollars.
formulas that use a cell reference for the exchange rate; you may not use the currency converter link for this calculation (a
your calculation there).
Add special formatting as indicated in the last column of the table. Other entries may use general formatting.
An example is provided for you. Note that this country is not available for you to choose from the list.
Example
The letter
T
Country starting with the letter
(or next available letter)
Tajikistan
The date that you looked up the
conversion rate (must be within
2 weeks of your assignment due
date)
Full name of the country’s
currency as listed on the XE
website
Currency code (ISO-4217)
5/23/2020
Tajikistani somoni
TJS
First letter of your
first name
Second letter of
your first name
Exchange rate for the currency
to at least 5 significant digits (or
exact rate if there are fewer
than 5 significant digits)
10.26863117
Your savings in the country’s
currency. Note that you must
enter a formula here and then
format the cell to display the
currency code; do not enter text
in this cell.
TJS 0.00
Your full name entry must be
longer
$97.38
Choose your countries from this list
Afghanistan
Cambodia
Guatemala
Lebanon
Albania
Canada
Guernsey (UK)
Liberia
Algeria
Cayman Islands (UK)
Guinea
Libya
Angola
Chile
Guyana
Macau (China)
Argentina
Armenia
China
Colombia
Haiti
Honduras
Madagascar
Malawi
Aruba (Netherlands)
Comoros
Hong Kong (China)
Malaysia
Hungary
Maldives
Iceland
Mauritania
Azerbaijan
Congo, Democratic
Republic of the
Costa Rica
Bahamas
Croatia
India
Mauritius
Bahrain
Cuba
Indonesia
Mexico
Bangladesh
Czechia
International
Moldova
Monetary Fund (IMF)
Barbados
Denmark
Iran
Mongolia
Belarus
Belize
Djibouti
Dominica
Iraq
Isle of Man (UK)
Bermuda (UK)
Dominican Republic
Israel
Morocco
Mozambique
Myanmar (formerly
Burma)
Bhutan
Bolivia
Bosnia and Herzegovina
Egypt
Jamaica
Namibia
Eritrea
Ethiopia
Japan
Jersey (UK)
Nepal
New Zealand
Australia
Botswana
Falkland Islands (UK)
Jordan
Nicaragua
Brazil
Fiji
Kazakhstan
Nigeria
Brunei
Gambia
Kenya
Bulgaria
Georgia
Kuwait
Burundi
Ghana
Kyrgyzstan
North Korea
North
Macedonia (formerl
y Macedonia)
Norway
Cabo Verde
Gibraltar (UK)
Laos
Oman
alent amounts in several foreign currencies and convert a given
an Excel formula that references the appropriate cell directly:
Legend
If a cell is shaded
Blue
Green
Gold
Any other color
You should
Enter a text
response
Enter a number
Enter an Excel
formula
Make no changes
4217 standard), and the exchange rate for $1, using the
f the local currency into dollars. These calculations must be Excel
verter link for this calculation (although you’re welcome to check
general formatting.
om the list.
First letter of your
last name
Second letter of
your last name
Format this
entry as
Date
Currency with
the country’s
currency code
as a symbol
Currency with
the $ symbol
Pakistan
Switzerland
Papua New Guinea
Syria
Paraguay
Taiwan
Peru
Tanzania
Philippines
Poland
Qatar
Thailand
Tonga
Trinidad and
Tobago
Romania
Tunisia
Russia
Turkey
Rwanda
Turkmenistan
Saint Helena (UK)
Uganda
Samoa
Ukraine
Sao Tome and
Principe
Saudi Arabia
Serbia
United Arab
Emirates
United Kingdom
Uruguay
Seychelles
Uzbekistan
Sierra Leone
Singapore
Somalia
Vanuatu
Venezuela
Vietnam
South Africa
South Korea
Sri Lanka
Sudan
Suriname
Sweden
Wallis and
Futuna (France)
Yemen
Zambia
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Tags:
competency
Monthly Budget
home improvements
Potential savings
Savings and Loan
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