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BCPT 123, Introduction to Business Computing

Excel Assignment No. 1: Using the Payment Function

Calculate the following information:

Search the internet to purchase the following items using the 2 scenarios listed below. Calculate and present all 2 scenarios using 1 Excel workbook. You must demonstrate your PMT calculations for each scenario on separate worksheets and Format each scenario solution. Each solution MUST fit on a legal size sheet.

SCENARIO NO.1 – Assume you are a Broker. Provide the following information for you client.

Purchase a Company Executive Limousine:
Your client is the CEO of a high tech business and she requires a new Limousine. She has hired your brokerage company to find suitable transportation for business. She entertains and meets with many foreign business people so company image is important. She will use a company chauffer.
Provide your client with 3 different car model options. You are required to make the recommended Limousine for the client.

1. You determine the down payment.
2. Determine what your bank loan will be.
3. Calculate the interest rate and make sure the Rate is describe and displayed on your worksheets when you format your assignment. DO NOT USE an Internet purchase calculator. This MUST be calculated in Excel.
4. Use the Bank’s Prime rate of 2.75% and then add 4 % to the Bank’s Prime to determine the consumer loan Interest Rate.
5. Provide 3 different car options to your client including photos of each car and a brief description.
6. Select one of the limousines which you would recommend to the client from the three you have researched and calculate the following:
1. Provide 3 various down payment options for your client
2. Calculate what your monthly payment would be if the loan was amortized over the following terms.
1. 3 years
2. 5 years
3. 7 years
3. REMEMBER: The 2 variables in a PMT Function are Down Payment and Term of the Loan. If the consumer has financial leverage they might be able to negotiate the Interest Rate.
7. You must display all 3 Terms (Monthly) Calculations in your workbook.
9. Format the information so it is clearly understood by the client
12. The client will pay for their own products.

SCENARIO NO. 2 – Assume you are a Yacht Broker. Provide the following information for you client.

Purchase a Sailboat: Your client is the owner of a manufacturing business and he would like to purchase a larger sailboat/yacht for personal use.  He currently owns a C&C 27 ft. sailboat.  He has hired your yacht brokerage company to find a suitable sailboat/yacht. He would like his next boat to sleep between 6 and 13 people.  Use his current sailboat as a trade-in. The trade-in value will be 25% of the new purchase. You may also recommend to your client an increased down payment amount.  Calculate this value and clearly display it in your quote.

1. You determine the down payment.
2. Determine what your bank loan will be.
3. Calculate the interest rate and make sure the Rate is describe and displayed on your worksheets when you format your assignment. DO NOT USE an Internet purchase calculator. This MUST be calculated in Excel.
4. Provide 3 different yacht/boat options to your client including photos of each boat and a brief description.
5. Select one of the yachts from the three you have researched and would recommend to the client. Calculate the following:
1. Provide 3 various down payment options for your client
2. REMEMBER: The 2 variables in a PMT Function are Down Payment and Term of the Loan. If the consumer has financial leverage they might be able to negotiate the Interest Rate.
3. Calculate what your monthly payments would if the loan was amortized over the following terms.
1. 10 years
2. 15 years
• 20 years
1. You must display all 3 Terms (Monthly) calculation in you workbook
2. Use the Bank Prime Rate of 2.75% and then add 1.98% to the Bank’s Prime Rate to determine the Consumer Loan Interest Rate.
4. Format the information so it is clearly understood by the client
7. The client will pay for their own products.

Presentation Instructions:

1. Create a name for your Brokerage Company and display it on your pages. Create or use a clipart image for your logo. It should also be incorporated into your pages and Invoices
2. Title and save it as Excel Assignment No. 1.
3. Apply formatting to your sheets.
4. Place each Scenario on a separate worksheet and format it onto a legal size page.
5. Insert your company name in the footer
7. Name each work Sheet Tab using this Naming list:
1. Limousine
2. Boat
• Limousine Invoice
1. Boat Invoice

1. Your broker fees will be calculated as a flat 14.35% on the total price of each item. Select and use only 1 of the 3 quotes for each of the scenarios. IE; 1 brokerage fee for the car purchase, 1 fee for the yacht/sailboat purchase.
3. Create a Billing Address for each client.
5. Clearly display all of the financial information for you client’s inspection on each invoice.
2. Remember you are a business. Presentation to the client is paramount.
3. Upload your finished Workbook and the two Invoices to Moodle. In total 4 worksheets.

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