# Compound Interest software analysts - 20307

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## studentlance

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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 Description

Liteman, Cal

Law, Grace1

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