Group #2 - Assignment
Videos
Based on your pretest test scores the following videos have been chosen for you to review. The videos
will assist with you completing the assignment listed below. Please watch the videos in the order they
are presented.
After a series of videos you will be asked to write a summary about what you have learned and any
possible questions that you may have. You will be given a piece of paper and I would like for you to
write a paragraph about what you have learned and if you have a clear understanding of the objectives
covered. Also, indicate any questions you may have about the program. Of course you have not learned
everything about Excel so this should be about what you learned up to this point.
Please watch the follow videos.
Video #1: http://www.youtube.com/watch?v=X3jB4wncJp4 (Excel Intro 5:16min)
Video #2: http://www.youtube.com/watch?v=NA0GeNptJIA (Basic Spreadsheets 10:09)
**Use the paper I gave you to write a summary about what you learned so far…and any questions.
Video #3: http://www.youtube.com/watch?v=8cWJtyMK9s8 (Basic Spreadsheet with Formulas
7:30min)
Video #4: http://www.youtube.com/watch?v=rGfp4B5xybY (Entering and Editing Data 9:31min)
Video #5: http://www.youtube.com/watch?v=Yu55EfftvX8 (Intro to formulas 8:13min)
On the same paper I gave you write another paragraph summary about what you learned and any
questions that you may have.
After watching the videos you may start on your Personal Budget
Assignment below.
Personal Budget
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Open a new document in Microsoft Excel – Save the document as lastname_budget
Set up your document so it resembles the figure below.
Row 1 needs to be merged and centered.
Row 3 and 7 should be merged and left aligned.
All items under each heading should be indented twice
Row 3, 7, 21, and 22 should be bold and filled in with a color.
All number cells in the month and year columns are formatted with accounting style
formatting.
1. To calculate Wages use the following formula (hourly wage x number of hours worked in a week
x 4 weeks)
2. After creating a formula for the cells in January use the auto fill method to copy the formula
over to the year column. (drag the bottom right corner to the right)
3. If you do any extra jobs to earn income place that dollar amount in the miscellaneous row.
4. Gross Income In cell B6 create a formula that will add cell B4 and B5 together. Drag the bottom
right corner of the cell over to the year column to automatically fill in all the cells.
5. To calculate your taxes on your income use the following formula. Gross Income x 7.5% = taxes
that will be withheld from your check.
6. To figure out rent go on the internet and find an apartment that advertises the cost.
7. Utilities normally include your electricity, water, gas, and trash pickup. If you plan to live in an
apartment, a lot of times they will pay some of your utilities for you and you will probably only
pay about $75 per month.
8. Cell Phone plans vary but typically you can get a single line for around $60.
9. Gas expenses are on the rise. You can use the internet to look up what size gas tank is on the
car of your choice. Today, gas prices are around $3.50 per gallon of gas. If you have a 16 gallon
gas tank on your car, multiply 16 by 3.50. Then if you plan on driving a lot you may need to plan
on purchasing at least a tank of gas every week. So, multiply by 4 to get the amount of gas
money you need for the month.
10. Cable TV This varies greatly on what package you have with the cable or satellite company. You
will need to budge anywhere from 29.99 to 79.99 per month.
11. How much money do you spend on entertainment? This is extra money to go out to eat on, go
bowling, go to the movies, and etc. By the way, guys…if you have a girlfriend you need to plan
on double as you will be paying your girlfriends part. Hey, the key here is to be honest. Really
think about how often you go out and what you expect to pay.
12. Automobile Loan. Do you have a car payment? If so, enter it. If not, do you plan to have a car
payment? Many car dealership websites have a calculator for you to figure out what your
monthly car payment will be on a car loan. Most of you will be paying about 6% interest on a
car loan if you were to purchase one today. So, enter the entire cost of the car you’re going to
buy and the interest amount into a dealership calculator to find out what your car payment will
be. Please ask Mrs. Selby for help on this if you need it! It is important for real life for you to
know how to figure car expense! (we have not learned the PMT function yet)
13. If you have a car you will pay car insurance. It is the law. Girls can plan on spending about $130
per month, and boys can plan on spending about $175 per month.
14. Groceries will vary greatly depending where you shop, what you buy, and how much you eat.
An average grocery bill for a single person might be around $75.00 to $100.00 a week.
15. Think about what you pay for clothes. Are you a shopper and like to buy something new every
week? Are you a shoe hoarder? What kind of clothes will you need for your job? Really put
some thought into this and decide what you “Have to Have” instead of “What You Want”. By
the way, you need to add toiletries to this category. Ladies will spend more here than men. If
you buy deodorant, shampoo, & soap…then plan about $20 per month for toiletries. If you buy
makeup, special hair gels, perfume, cologne, pedicures, manicures, massages, hair dye, haircuts
and etc. expenses will need to be added.
16. Vacation! Are you planning to take any time of vacation? Spring Break with friends. This would
not be a monthly expense unless you save a little each month. You will have to do a little
research to determine the amount of money you would need to save for your vacation.
17. Year – Create a formula to calculate year income (expenses). Simply add your numbers
together.
18. Total Expenses. Create a formula that will add all of your expenses (B8 to B19)
19. Net Income. Create a formula that will subtract the total expenses from the Gross Income
20. Be sure to review all of your formulas before submitting it.