Posted: February 10th, 2021

I would like to have this homework done for me before Monday at 1pm.thank you.

**100 points **Week 4 – Lab

1. Start on file Excel1, worksheet Week4 Lab.

2. In cell A1

• Enter: TAX RATE

3. In cell B1

• Name the cell: TAX_RATE (Note: Do not enter TAX_RATE in the cell)

• Enter: 30%

4. In cell I5

• Create a formula that will calculate the Average Tax per Person by multiplying the Avg Salary in cell H5 times the TAX_RATE in cell B1. You must use the cell name TAX_RATE in your formula.

• Use the fill handle to copy the formula to cell I11.

5. In cell J5

• Create a formula that will calculate the Tax Gross by multiplying the Avg Tax Per Person in cell I5 times the Population in cell G5.

• Use the fill handle to copy the formula to cell J11.

6. Auto fit column J.

7. In cell K4

• enter text VA Taxes

8. In cell K5

• Use the Insert Function (fx), Logical, If that will test if the St column for the row (cell F5) = “VA”

If it is TRUE then the cell will equal the Tax Gross value for this row (cell J5)

If it is FALSE then the cell will equal “ ” for this row.

• Use the fill handle to copy the formula to cell K11.

9. In cell K12 (This is a nested function)

• Use the Insert Function (Logical, If) that will test if the sum of cells K5 : K11 > 750000000

If it is TRUE then display the message “The tax is sufficient”.

If it is FALSE then display the message “Insufficient Funding”.

10. Copy the contents of cell F6 to cells F8 & F10 (the message displayed in cell K12 should change).

11. Auto fit column K.

Extra Credit:

You want to take a loan of $150,000 to buy Lamborghini. The terms are that you will pay off the loan in 60 months with an annual percentage rate of 5%. Use the PMT function to calculate what the monthly payment will be.

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