1
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Start Excel. Open the downloaded Excel workbook named Lab 2 Data File. Save the workbook as Lab2_YourFirstName_YourLastName.
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2
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In the Circular Referencing Warning message box, click OK, and then close the Help window that opens automatically. Assign the name Membership to the range A18:C20.
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3
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In cell B2, enter a function that will return the value of today's date.
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4
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In cell C5, create a VLOOKUP function that returns the membership cost that corresponds with the membership type entered in cell B5. Create the function to find an exact match in the range named Membership, and return the membership cost from the second column.
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5
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Copy the VLOOKUP function down to cells C6:C13.
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6
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In cell E5, enter an IF function that will calculate the annual total. If the client has a Locker (D5) is "Yes", then add the Cost (C5) to the Locker Fee (B22). Otherwise, the function will return the Cost only. Ensure that B22 is entered as an absolute reference.
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7
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Copy the IF function down to cells E6:E13.
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8
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In cell G5, enter a formula that will multiply the Annual Total (E5) by Years (F5) to calculate Total Due. Copy the formula down to cells G6:G13.
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9
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In Cell H5, create a VLOOKUP function that returns the down payment that corresponds with the membership type entered in cell B5. The function will look for an exact match in the range named Membership, and return the down payment from the third column.
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10
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Copy the VLOOKUP function down to cells H6:H13.
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11
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The formula in cell I5 is incorrect, and contains a circular reference. Edit the formula so that is calculates the difference between Total Due and Down Payment. Copy the formula down to cells I6:I13.
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12
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In cell J5, enter a function to calculate a monthly payment for the client. The function will refer to the annual interest rate (B23) divided by B24, a loan term (F5) multiplied by B24, and the balance due (I5). Refer to B23 and B24 as mixed cell references (B$23 and B$24). Refer to I5 as a negative value (-I5) so that your result returns a positive number.
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13
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Copy the payment function down to cells J6:J13.
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14
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In cell H18, enter a function that counts the number of entries in the range A5:A13.
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15
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In cell H19, enter a function that finds the lowest value in the range J5:J13.
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16
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In cell H20, enter a function that finds the average value in the range J5:J13.
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17
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In cell H21, enter a function that finds the highest value in the range J5:J13.
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18
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In cell H22, enter a function that finds the median value in the range J5:J13.
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19
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Format the range H19:H22 with the Accounting format.
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