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Compound Interest software analysts
 
R

software analysts

 

 

Because the CEO wants to increase salaries for all hourly employees and 
software analysts, there needs to be a count of the employees in each
 
category.

  1. Create an additional worksheet named “DB Calculations.”
  1. Set up a criteria range in the first few rows and columns to identify all 
    hourly employees.
  1. Set up a second criteria range in the columns next to the first to identify 
    the software analysts with salaries less than $55,000.
  1. In any cell beneath each criteria range, use the DCOUNT function to 
    calculate the number of hourly employees using the first criteria range, and
     
    then again to calculate the number of software analysts with salaries less than
     
    $55,000.
  1. Multiply the count of hourly employees by 2,000, and the count of software 
    analysts with salaries less than $55,000 by 4,000. The sum of these two numbers
     
    will be the total funding needed to execute the CEO’s plan.

 

Part 2: Use the funding you calculated in Part 1A and the 
appropriate compound interest formulas you learned in business algebra to
 
calculate the investment amounts for options 1 and 2. Show your calculations in
 
any empty area on the worksheet created in Part 1.

 

Hints:

 

Excel Functions:

 

PV – Returns the present value of a future amount

 

PMT – Calculates the payment necessary to accumulate a future amount

 

 

Compound Interest Formulas:

 

A = P(1 + i)n

 

FV = PMT ×

(1 + i)n – 
1

 

 

 

 

Solution
$ 15.00
  • This Solution has never been Purchased.
  • Submitted On 28 Jul, 2013 09:16:30
S

Liteman, Cal
Law, Grace1
 

Word Count 23
Attachment
  • Compound Interest.xlsx