excel: mortgages

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Excel: Mortgages

Excel: MortgagesA mortgage is when a person takes out a loan from a bank to buy a home. In this project, we will select a house, select a bank, and plan out a mortgage payment schedule. Use www.trulia.com to find the homes. Use www.chase.com to find the mortgage rates under: Products & Services => Mortgages => Buy a Home.

Find the Nicest House in the BronxUse the website to pick a favorite home in the Bronx and find out the cost. Open up a new Excel document and save the document with your name included in the file name. Write the information for the most expensive house and the least expensive that you would be comfortable living in. To make the words fit, click the mouse and drag in the little lines separating the different columns. Creating The Mortgage FormulaSet up the spreadsheet as shown. The formula will multiply the house cost times the interest rate. The interest rate is for a year and payments are made per month so it is divided by 12. The payment subtracts from the loan amount.

***Draw This Table Into Notes***Drag the Formula To Multiple MonthsExcel will automatically copy formulas and numbers when you select it and drag the little solid square in the lower right corner of the selected area. Select the Loan Amount, Interest Rate and Payment as shown. Drag the little box downward and watch as Excel fills in lots of numbers. See how far it has to be dragged down To get the Loan Amount to zero for both Favorite and Cheapest House.

SummaryExcel MortgagesFind the Nicest House in The BronxCreating the Mortgage FormulaDrag the Formula to Multiple Months

Excel: Lunch AppreciationEnter the data as shown with columns marked with the number 1 under Like A Lot Could Eat It and Wont Eat It. Be sure to place the labels on both the top and the bottom. Go to http://www.opt-osfns.org/schoolfood/public1/default.aspx and find the calendar for HS Lunch. Adding up the ColumnsTo add up the numbers automatically, select the information and use the AutoSum key in the top right corner on the home tab. The program does the calculations and places the totals on the bottom. Set it up as shown in order to have proper formatting for graphing.

Inserting a Pie Graph

To graph the accumulated data, select just the bottom titles and sums. Then, click the insert tab and select the pie graph under the charts menu. The pie graph will now display each of the columns shown as a colorful, easy to understand graphic. It is easy to see which students are a more fussy eater by looking at the wedge showing Wont Eat It. Adding Additional GraphsThere are a lot of different kinds of graphs available to show the same data. Find another graph that does not display the data very well. Find a graph that does show the data very well. Explain in a paragraph, under the three graphs, what it is that has been accomplished during this section. SummaryExcel: Lunch AppreciationAdding up the ColumnsInserting a Pie GraphAdding Additional Graphs

Excel: Million Dollar EducationGo to www.bls.gov/emp/ep_chart_001.htm to find out information on how education affects salary.

Add the Unemployment rates and weekly salary for Doctoral Degrees, Bachelors Degree, H.S. Diploma and Less Than H.S diploma as shown to your notesMonthly and Yearly SalaryThere are 4 weeks in a month and 52 weeks in a year. Multiply the doctors weekly earnings by 4. To do this, use the equals sign, click on the doctors number for weekly earnings and use the * for multiplication and the number 4. Use * 52 for the year. = * 4 = * 52

Dragging The FormulasThe formulas under the Monthly Earning column and Yearly Earnings column should be dragged down. To do this, click on the small, solid squre while selecting the two cells with the formulas. Then, drag the mouse down to the bottom of the data table.

Salary AnalysisA person can usually afford to pay about a third of their salary towards their mortgage to buy a house. Go back to the first section of the excel spreadsheet and see how much of an education a person will need to be able to afford the 2000 monthly payment. Explain the answer with a paragraph in a text box by using the Insert Tab : Text Box. Create a useful graph under Insert Chart for the Salary Data. SummaryExcel: Million Dollar EducationMonthly and Yearly SalaryDragging The FormulaSalary Analysis

Excel: Early RetirementThe S&P 500 gives a person an idea on how well the stock market is doing. If the market is doing well, people get a higher percentage of money from investment. Go to the Wikipedia web site and look up S&P 500. On that page, navigate to the part that says total annual returns. Copy and paste this information into the project excel spreadsheet.

Average Rate of ReturnTo find the average rate from the stock market, select the percentages and use the average function with the selection arrow on the AutoSum button in the top right corner of the Home Tab. This number will give an idea of how much a person may make in the stock market. If the number is higher, people made more money that year. If the number is negative, people lost money.

Path to Millionaire With careful planning, a financial manager can figure out how long it will take to save a million dollars. It is easier to save if the money is invested. The higher percentage returned from the investment, the faster the money will grow. The more money added monthly, the faster the investment will grow. Calculate Investment ReturnUsing the formula shown, a financial planner can figure out how long it will take to make a million dollars. After entering the formula, drag the selected formula while clicking on the small solid square in the lower corner. Correct the formula to properly show a monthly return rather than erroneous yearly return as shown.

Excel Early RetirementAverage Rate of ReturnPath to MillionaireCalculate Investment ReturnData Analysis/RubricThere are several ways to earn points on this project. A rubric adds all possible values and returns a sum. Remember to use the AutoSum to make the math easier. In some cases, a student may choose to earn more points on one section. Be certain to complete enough credit to get the desired grade.

Rubric, part 1

Rubric part 2

College and CareersA great way to have a successful career is to keep in charge of peoples money. Become an accountant or a financial planner and use MS Excel for success. Additional, business math and science majors will use spreadsheets all the time to analyze data. Nearly any career or major will benefit from being able to keep track of numbers and create plans. SummaryData Analysis/RubricRubric Part 1Rubric Part 2College and Careers