Spreadsheets for Business

The stylist just did a great job and your hair is going to look good for weeks. The stylist charged $70 and you decide to add a 15% cash tip. How big is the tip?

$10.50

You just had a great lunch at a nice restaurant and decide to leave a 15% tip on your $18 meal. What will be the total charge on your debit card?

$20.70

Every time you go to the gas station you're amazed by how much prices have increased. At this time last year the price was $3.20 per gallon and now the price is $4.25 per gallon. Which of the following spreadsheet formulas correctly calculates the percentage change?

((4.25 - 3.20) / 3.20) * 100

Select the spreadsheet formula that would correctly calculate the average (mean) of the following values: 3, 2, 6, and 8.

(3 + 2 + 6 + 8) / 4

Select the spreadsheet formula that would correctly calculate the average (mean) of the following values: 4, 2, 5, and 5.

(4 + 2 + 5 + 5) / 4

If you type =2 + 3 * 6 into a cell in a spreadsheet and then press Enter, what will appear in the cell?

20

Rate

Annual percentage rate (APR) of interest

What is the purpose of using color in spreadsheets?

Color makes data easier to read.

To retain a row or column, but remove it from view, right-click on the row or column heading and select

Hide.

Period

Single payment

Use the AutoSUM function if you want to quickly ________ a series of values in a spreadsheet.

add

In the financial world, which color represents credits or profits?

black

Select two common uses of spreadsheets.

budgeting & finance

Saving a spreadsheet file in .cvs format only saves the

cell values.

The basic unit of any spreadsheet, essentially a box where data can be entered, is called a(n)

cell.

The total amount of money (principal + interest) that lender receives from a borrower at the end of the loan is referred to as the loan's

future value (FV).

The active cell in a spreadsheet is the cell into which the user can input data. In most spreadsheet programs the active cell can be identified by which three items?

heavy border, highlighted column and row headings, name box (in the upper left corner of the sheet)

Each loan payment is referred to as a(n)

period.

Because they make it easy to arrange, display, and calculate numerical data, ________ programs are often used in budgeting, accounting, finance, grading, gambling houses, and even sports analysis.

spreadsheet

Computer programs that allow users to easily arrange, calculate, and present numerical data are called ________.

spreadsheets

The number 27 in the cell depicted above is a value, not a formula. If the user drags the cursor to the right, what will appear in the cell to the right?

27

Present Value (PV)

Amount of money (principal) originally borrowed or owed

To quickly show if the values in a column or row are greater than, less than, or equal to a certain value, use the ________ function.

IF

To determine how much a recurring monthly payment would be for a car loan or a mortgage, use the ________ function.

PMT

The amount of money borrowed in a loan is often referred to as the loan's balance or the ________ of the loan.

principal

In a spreadsheet, a horizontal line of cells is called a

row.

Term

Length of loan in years

The amount of money borrowed in a loan, sometimes referred to as PV or the loan balance, is the loan's ________.

principal

When displaying financial information, the accepted practice is that ________ indicates negative values.

red

Sports analysts often use ________ to keep track of statistics, times, and scores of nearly every sporting event.

spreadsheets

Which two of the following refer to the amount of money a lender charges for borrowing money (excluding any origination fees)?

the APR (annual percentage rate) & the interest rate

You see ###### in a cell. This means that

this is not an error. The cell needs to be expanded in order to display the entire value.