CS130/230 Assignment 1
Date Assigned: Friday,January 9, 2004
Date Due: Monday,January 12, 2004
Total Points: 50
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For this assignment you should create an Excel file that hastwo worksheets as follows:
You have been asked to help your local parking lot owner tocreate a worksheet to calculate the total cash collected by the parkingattendants.
Create a worksheet where the owner of the parking lot canenter in the number of dollar bills in the various currency denominations(assume that there will be only 1, 5, 10, 20, 50 and 100 dollar bills) andcalculates the grand total.
Your worksheet should have three columns containing:
- Billdenomination
- Numberof bills
- Totalfor each denomination
At the bottom of the worksheet display the grand total ofthe cash.
Your friends have just celebrated the birth of their firstdaughter and having gone through college themselves, they are aware of howexpensive a college education can be. They have asked for you to help them insetting up a college fund.
Their goal is to save $75,000 by the time their daughter iseighteen. Current interest rates for such funds are 6.5% compounded monthly.
Create a college fund worksheet to allow the user to enterin the:
- Savinggoal
- Savingperiod in years
- Interestrate
You should then display how much money should be paidmonthly into the account to reach this goal. Show this as a positive value.
For the next part create a table showing how the money inthe savings account will grow over the next eighteen years. Your table shouldcontain column headings for the:
- Paymentperiod (month 1, 2, 3, etc.)
- Beginningbalance (how much money is in the account at the start of the month)
- MonthlyInterest (interest charged for the month)
- MonthlyPayment (how much will be added that month)
- Finalbalance (beginning balance plus interest plus monthly payment)
Finally, display how much money in total your friends wouldhave to pay into the account to reach their goal and display the total amountof interest they would earn.
I will be doing what-if analysis on your solution.Specifically, I will be changing the interest rate and number of years. Forfull credit your monthly payment and payment schedule should correctly reflectany changes that I make.
Everything in the worksheet should be right justified andformatted correctly (i.e. currency, percentage, etc) except the text that asksthe user to enter in the values.
Once you have completed both worksheets, name your workbook Ôyourpunetid.xlsÕ and place it into the ÔCS130 DropÕ folder on ÔWinterÕ. Yourworkbook must be in the drop box by 9am for full credit.