Home Mail MemberMap Chat (0) Wallpapers
Go Back   ChiefsPlanet > The Lounge > Media Center

Reply
 
Thread Tools Display Modes
Old 03-15-2005, 11:09 PM  
TRR TRR is offline
The Priest and I
 
TRR's Avatar
 
Join Date: Mar 2003
Location: CO
Casino cash: $5065
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: 6,582
TRR has disabled reputation
  Reply With Quote
Old 03-15-2005, 11:12 PM   #2
ChiefsCountry ChiefsCountry is online now
Gonzo = Sexy Bitch
 
ChiefsCountry's Avatar
 

Join Date: Jan 2004
Location: Lake of the Ozarks
Casino cash: $15916
Don't you just hate excel?
Posts: 29,535
ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.
  Reply With Quote
Old 03-15-2005, 11:14 PM   #3
TRR TRR is offline
The Priest and I
 
TRR's Avatar
 

Join Date: Mar 2003
Location: CO
Casino cash: $5065
I just don't freakin' get it. I'm not one to ask for HW help, but I am clueless on this one.
Posts: 6,582
TRR has disabled reputation
  Reply With Quote
Old 03-15-2005, 11:26 PM   #4
TRR TRR is offline
The Priest and I
 
TRR's Avatar
 

Join Date: Mar 2003
Location: CO
Casino cash: $5065
bump
Posts: 6,582
TRR has disabled reputation
  Reply With Quote
Old 03-15-2005, 11:27 PM   #5
ChiefsCountry ChiefsCountry is online now
Gonzo = Sexy Bitch
 
ChiefsCountry's Avatar
 

Join Date: Jan 2004
Location: Lake of the Ozarks
Casino cash: $15916
wish i could help
Posts: 29,535
ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.ChiefsCountry is obviously part of the inner Circle.
  Reply With Quote
Old 03-15-2005, 11:28 PM   #6
Rain Man Rain Man is offline
No known superpowers
 
Rain Man's Avatar
 

Join Date: Jul 2001
Location: In A World Few See
Casino cash: $8863
VARSITY
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.
__________________
Welcome to NFL Sunday! At 11:00 see Peyton Manning flip off the top rope and clothesline Clay Matthews! At 2:00 Drew Brees will hit Terrell Suggs with a chair! Buy your Andrew Luck jersey and let's get reeeeeady to rummmmmble!
Posts: 77,587
Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.
  Reply With Quote
Old 03-15-2005, 11:31 PM   #7
TRR TRR is offline
The Priest and I
 
TRR's Avatar
 

Join Date: Mar 2003
Location: CO
Casino cash: $5065
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.
Posts: 6,582
TRR has disabled reputation
  Reply With Quote
Old 03-15-2005, 11:39 PM   #8
TRR TRR is offline
The Priest and I
 
TRR's Avatar
 

Join Date: Mar 2003
Location: CO
Casino cash: $5065
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: 6,582
TRR has disabled reputation
  Reply With Quote
Old 03-15-2005, 11:52 PM   #9
Rain Man Rain Man is offline
No known superpowers
 
Rain Man's Avatar
 

Join Date: Jul 2001
Location: In A World Few See
Casino cash: $8863
VARSITY
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.
__________________
Welcome to NFL Sunday! At 11:00 see Peyton Manning flip off the top rope and clothesline Clay Matthews! At 2:00 Drew Brees will hit Terrell Suggs with a chair! Buy your Andrew Luck jersey and let's get reeeeeady to rummmmmble!

Last edited by Rain Man; 05-13-2008 at 07:29 PM..
Posts: 77,587
Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.
  Reply With Quote
Old 03-15-2005, 11:57 PM   #10
TRR TRR is offline
The Priest and I
 
TRR's Avatar
 

Join Date: Mar 2003
Location: CO
Casino cash: $5065
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.
Posts: 6,582
TRR has disabled reputation
  Reply With Quote
Old 03-15-2005, 11:59 PM   #11
Rain Man Rain Man is offline
No known superpowers
 
Rain Man's Avatar
 

Join Date: Jul 2001
Location: In A World Few See
Casino cash: $8863
VARSITY
Hopefully it's right. I think I understand what he's looking for, though.
__________________
Welcome to NFL Sunday! At 11:00 see Peyton Manning flip off the top rope and clothesline Clay Matthews! At 2:00 Drew Brees will hit Terrell Suggs with a chair! Buy your Andrew Luck jersey and let's get reeeeeady to rummmmmble!
Posts: 77,587
Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.Rain Man is obviously part of the inner Circle.
  Reply With Quote
Old 03-16-2005, 12:03 AM   #12
TRR TRR is offline
The Priest and I
 
TRR's Avatar
 

Join Date: Mar 2003
Location: CO
Casino cash: $5065
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.
Posts: 6,582
TRR has disabled reputation
  Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump




All times are GMT -6. The time now is 09:42 AM.


This is a test for a client's site.
A new website that shows member-created construction site listings that need fill or have excess fill. Dirt Monkey @ https://DirtMonkey.net
Powered by vBulletin® Version 3.8.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.