Question for you Microsoft Excel guru's...

TRR · 03-15-2005, 10:09 PM

I got a problem to do for a class, and I am struggling with it. Anyone care to help? Here is the problem....

Your looking to retire into a class one mobile home. For 10 years, you will make deposits. The account pays 7.25% annual interest. Create a worksheet that uses financial function to show future value on the investment and determine the percent of the mobile home cost saved.

Mobile Home Cost = $120,000
Rate (per month) = 7.25%/12
NPER = 10*12
PMT = $300
Percent of tuition saved = FV/Cost

Create a data table that shows the FV and percentage of Cost saved for monthly payments from $250 to $600 in 50 dollar increments.

Any help will get multiple rep!!

ChiefsCountry · 03-15-2005, 10:12 PM

Don't you just hate excel?

TRR · 03-15-2005, 10:14 PM

I just don't freakin' get it. I'm not one to ask for HW help, but I am clueless on this one.

TRR · 03-15-2005, 10:26 PM

ChiefsCountry · 03-15-2005, 10:27 PM

wish i could help

**Rain Man** · 03-15-2005, 10:28 PM

What's the tuition statement about?

I think that all this problem is about is identifying how much you would need to save to earn the cost of the mobile home in ten years, along with the future value of each month's savings. I just don't know what they're talking about with tuition.

TRR · 03-15-2005, 10:31 PM

Quote:

Originally Posted by Rain Man

What's the tuition statement about?

I think that all this problem is about is identifying how much you would need to save to earn the cost of the mobile home in ten years, along with the future value of each month's savings. I just don't know what they're talking about with tuition.

Are you talking about the percentage of tuition saved? I believe it's what you said. Basically, what you will save on the investment if you pay into it monthly over a 10 year period.

Basically, I think he is saying at the end, you take your calculated FV and divide it by your actual cost of the motor home (120,000) to get you ending figure.

TRR · 03-15-2005, 10:39 PM

Here was his example problem...

Price $154,000.00 Rate 8.25%
Down_Pmt $32,000.00 Years 15
Loan_Amt $122,000.00 Monthly_Pmt $1,183.57
Total_Int $91,042.82
Total_Cost $245,042.82

Rate Monthly Pmt Total Interest Total Cost
$1,183.57 $91,042.82 $245,042.82
7.50% $1,130.96 $81,571.91 $235,571.91
7.75% $1,148.36 $84,704.16 $238,704.16
8.00% $1,165.90 $87,861.20 $241,861.20
8.25% $1,183.57 $91,042.82 $245,042.82
8.50% $1,201.38 $94,248.81 $248,248.81
8.75% $1,219.33 $97,478.92 $251,478.92
9.00% $1,237.41 $100,732.94 $254,732.94
9.25% $1,255.61 $104,010.63 $258,010.63
9.50% $1,273.95 $107,311.74 $261,311.74
9.75% $1,292.42 $110,636.04 $264,636.04
10.00% $1,311.02 $113,983.28 $267,983.28

**Rain Man** · 03-15-2005, 10:52 PM

Here's how I'd do it. I didn't bother to separate out the principal and interest, though that would be easy to do.

I used two methods - one using Excel's FV function, and the other calculated manually. The manual method is using a continuous growth assumption, so it's off a tad bit, I'll bet.

TRR · 03-15-2005, 10:57 PM

Quote:

Originally Posted by Rain Man

Here's how I'd do it. I didn't bother to separate out the principal and interest, though that would be easy to do.

I used two methods - one using Excel's FV function, and the other calculated manually. The manual method is using a continuous growth assumption, so it's off a tad bit, I'll bet.

Wow. Thank you. I'm giving you rep every day as long as I am on this board. Thanks Rain Man for the help. I appreciate it.

TRR · 03-15-2005, 11:03 PM

Quote:

Originally Posted by TRR

Wow. Thank you. I'm giving you rep every day as long as I am on this board. Thanks Rain Man for the help. I appreciate it.

Thank you. I just needed a little bit of functionality help. I appreciate it! You restored my faith in humanity.

**Rain Man** · 03-15-2005, 10:59 PM

Hopefully it's right. I think I understand what he's looking for, though.

03-15-2005, 10:09 PM	Topic Starter
TRR The Priest and I Join Date: Mar 2003 Location: IA Casino cash: $11757	Question for you Microsoft Excel guru's... I got a problem to do for a class, and I am struggling with it. Anyone care to help? Here is the problem.... Your looking to retire into a class one mobile home. For 10 years, you will make deposits. The account pays 7.25% annual interest. Create a worksheet that uses financial function to show future value on the investment and determine the percent of the mobile home cost saved. Mobile Home Cost = $120,000 Rate (per month) = 7.25%/12 NPER = 10*12 PMT = $300 Percent of tuition saved = FV/Cost Create a data table that shows the FV and percentage of Cost saved for monthly payments from $250 to $600 in 50 dollar increments. Any help will get multiple rep!!
Posts: 6,474

03-15-2005, 10:12 PM	#2
ChiefsCountry MVP Join Date: Jan 2004 Location: Lake of the Ozarks Casino cash: $645864	Don't you just hate excel? __________________
Posts: 24,149

03-15-2005, 10:14 PM	#3
TRR The Priest and I Join Date: Mar 2003 Location: IA Casino cash: $11757	I just don't freakin' get it. I'm not one to ask for HW help, but I am clueless on this one.
Posts: 6,474

03-15-2005, 10:26 PM	#4
TRR The Priest and I Join Date: Mar 2003 Location: IA Casino cash: $11757	bump
Posts: 6,474

03-15-2005, 10:27 PM	#5
ChiefsCountry MVP Join Date: Jan 2004 Location: Lake of the Ozarks Casino cash: $645864	wish i could help __________________
Posts: 24,149

03-15-2005, 10:28 PM	#6
Rain Man Welcome, Eric Fisher & Friends Join Date: Jul 2001 Location: 1.61 KM high city Casino cash: $62676540	What's the tuition statement about? I think that all this problem is about is identifying how much you would need to save to earn the cost of the mobile home in ten years, along with the future value of each month's savings. I just don't know what they're talking about with tuition. __________________ Onward Fisher, Onward Fisher, block right through that line. Block the ball clear down the field, a touchdown sure this time. Onward Fisher, Onward Fisher, fight on for her fame. Fight, fellows, fight, fight, fight, we'll win this game.
Posts: 66,605

03-15-2005, 10:39 PM	#8
TRR The Priest and I Join Date: Mar 2003 Location: IA Casino cash: $11757	Here was his example problem... Price $154,000.00 Rate 8.25% Down_Pmt $32,000.00 Years 15 Loan_Amt $122,000.00 Monthly_Pmt $1,183.57 Total_Int $91,042.82 Total_Cost $245,042.82 Rate Monthly Pmt Total Interest Total Cost $1,183.57 $91,042.82 $245,042.82 7.50% $1,130.96 $81,571.91 $235,571.91 7.75% $1,148.36 $84,704.16 $238,704.16 8.00% $1,165.90 $87,861.20 $241,861.20 8.25% $1,183.57 $91,042.82 $245,042.82 8.50% $1,201.38 $94,248.81 $248,248.81 8.75% $1,219.33 $97,478.92 $251,478.92 9.00% $1,237.41 $100,732.94 $254,732.94 9.25% $1,255.61 $104,010.63 $258,010.63 9.50% $1,273.95 $107,311.74 $261,311.74 9.75% $1,292.42 $110,636.04 $264,636.04 10.00% $1,311.02 $113,983.28 $267,983.28
Posts: 6,474

03-15-2005, 10:52 PM	#9
Rain Man Welcome, Eric Fisher & Friends Join Date: Jul 2001 Location: 1.61 KM high city Casino cash: $62676540	Here's how I'd do it. I didn't bother to separate out the principal and interest, though that would be easy to do. I used two methods - one using Excel's FV function, and the other calculated manually. The manual method is using a continuous growth assumption, so it's off a tad bit, I'll bet. __________________ Onward Fisher, Onward Fisher, block right through that line. Block the ball clear down the field, a touchdown sure this time. Onward Fisher, Onward Fisher, fight on for her fame. Fight, fellows, fight, fight, fight, we'll win this game. Last edited by Rain Man; 05-13-2008 at 06:29 PM..
Posts: 66,605

03-15-2005, 10:59 PM	#12
Rain Man Welcome, Eric Fisher & Friends Join Date: Jul 2001 Location: 1.61 KM high city Casino cash: $62676540	Hopefully it's right. I think I understand what he's looking for, though. __________________ Onward Fisher, Onward Fisher, block right through that line. Block the ball clear down the field, a touchdown sure this time. Onward Fisher, Onward Fisher, fight on for her fame. Fight, fellows, fight, fight, fight, we'll win this game.
Posts: 66,605

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