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EXCEL: MORTGAGES A mortgage is when a person takes out a loan from a bank to buy a home. In this project, we will select a house, select a bank, and plan out a mortgage payment schedule. Use www.trulia.com to find the homes. Use www.chase.com to find the mortgage rates under: Products & Services => Mortgages => Buy a Home. Use the website to pick a favorite home in the Bronx and find out the cost. Open up a new Excel document and save the document with your name included in the file name. Write the information for the most expensive house and the least expensive that you would be comfortable living in. To make the words fit, click the mouse and drag in the little lines separating the different columns. Creating The Mortgage Formula Set up the spreadsheet as shown. The formula will multiply the house cost times the interest rate. The interest rate is for a year and payments are made per month so it is divided by 12. The payment subtracts from the loan amount. ***Draw This Table Into Notes*** DRAG THE FORMULA TO MULTIPLE MONTHS Excel will automatically copy formulas and numbers when you select it and drag the little solid square in the lower right corner of the selected area. Select the Loan Amount, Interest Rate and Payment as shown. Drag the little box downward and watch as Excel fills in lots of numbers. See how far it has to be dragged down To get the Loan Amount to zero for both Favorite and Cheapest House. Excel Mortgages Find the Nicest House in The Bronx Creating the Mortgage Formula Drag the Formula to Multiple Months Excel: Lunch Appreciation Go to http://www.opt- osfns.org/schoolfood/public1/default.aspx and find the calendar for HS Lunch. Enter the data as shown with columns marked with the number 1 under “Like A Lot” Could Eat It and “Won’t Eat It”. Be sure to place the labels on both the top and the bottom. ADDING UP THE COLUMNS To add up the numbers automatically, select the information and use the AutoSum key in the top right corner on the home tab. The program does the calculations and places the totals on the bottom. Set it up as shown in order to have proper formatting for graphing. To graph the accumulated data, select just the bottom titles and sums. Then, click the insert tab and select the pie graph under the charts menu. The pie graph will now display each of the columns shown as a colorful, easy to understand graphic. It is easy to see which students are a more fussy eater by looking at the wedge showing “Won’t Eat It”. Like A Could Won't Adding Additional Graphs There are a lot of different kinds of graphs available to show the same data. Find another graph that does not display the data very well. Find a graph that does show the data very well. Explain in a paragraph, under the three graphs, what it is that has been accomplished during this section. Summary Excel: Lunch Appreciation Adding up the Columns Inserting a Pie Graph Adding Additional Graphs Go to www.bls.gov/emp/ep_chart_001.htm to find out information on how education affects salary. Add the Unemployment rates and weekly salary for Doctoral Degrees, Bachelors Degree, H.S. Diploma and Less Than H.S diploma as shown to your notes Monthly and Yearly Salary There are 4 weeks in a month and 52 weeks in a year. Multiply the doctor’s weekly earnings by 4. To do this, use the equals sign, click on the doctor’s number for weekly earnings and use the * for multiplication and the number 4. Use * 52 for the year. = <click on 1551> * 4 = <click on 1551> * 52 DRAGGING THE FORMULAS The formulas under the Monthly Earning column and Yearly Earnings column should be dragged down. To do this, click on the small, solid squre while selecting the two cells with the formulas. Then, drag the mouse down to the bottom of the data table. A person can usually afford to pay about a third of their salary towards their mortgage to buy a house. Go back to the first section of the excel spreadsheet and see how much of an education a person will need to be able to afford the 2000 monthly payment. Explain the answer with a paragraph in a text box by using the Insert Tab : Text Box. Create a useful graph under Insert Chart for the Salary Data. Summary Excel: Million Dollar Education Monthly and Yearly Salary Dragging The Formula Salary Analysis EXCEL: EARLY RETIREMENT The S&P 500 gives a person an idea on how well the stock market is doing. If the market is doing well, people get a higher percentage of money from investment. Go to the Wikipedia web site and look up S&P 500. On that page, navigate to the part that says total annual returns. Copy and paste this information into the project excel spreadsheet. To find the average rate from the stock market, select the percentages and use the “average” function with the selection arrow on the AutoSum button in the top right corner of the Home Tab. This number will give an idea of how much a person may make in the stock market. If the number is higher, people made more money that year. If the number is negative, people lost money. Path to Millionaire With careful planning, a financial manager can figure out how long it will take to save a million dollars. It is easier to save if the money is invested. The higher percentage returned from the investment, the faster the money will grow. The more money added monthly, the faster the investment will grow. CALCULATE INVESTMENT RETURN Using the formula shown, a financial planner can figure out how long it will take to make a million dollars. After entering the formula, drag the selected formula while clicking on the small solid square in the lower corner. Correct the formula to properly show a monthly return rather than erroneous yearly return as shown. Excel Early Retirement Average Rate of Return Path to Millionaire Calculate Investment Return Data Analysis/Rubric There are several ways to earn points on this project. A rubric adds all possible values and returns a sum. Remember to use the AutoSum to make the math easier. In some cases, a student may choose to earn more points on one section. Be certain to complete enough credit to get the desired grade. RUBRIC, PART 1 College and Careers A great way to have a successful career is to keep in charge of peoples money. Become an accountant or a financial planner and use MS Excel for success. Additional, business math and science majors will use spreadsheets all the time to analyze data. Nearly any career or major will benefit from being able to keep track of numbers and create plans. SUMMARY Data Analysis/Rubric Rubric Part 1 Rubric Part 2 College and Careers