Exp22_Excel_Ch07_ML1_RealEstate

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Instructions

Points Possible

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Start Excel. Download and open the file named Exp22_Excel_Ch07_ML1_RealEstate.xlsx. Grader has automatically added your last name to the beginning of the filename.

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The spreadsheet contains codes (BA, DA, SA) to represent agent roles (Buyer’s Agent, Dual Agent, Seller’s Agent). You want to switch the codes for the actual descriptions. In cell E12 of the Details sheet, insert the SWITCH function to evaluate the agent code in cell D12. Include mixed cell references to the codes and roles in the range J2:K4 for the values and results arguments. Use all cell references in the function. Copy the function to the range E13:E39.

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Now you want to calculate the number of days between the list date and sale date. In cell J12, insert the DAYS function to calculate the number of days between the Listing Date and the Sale Date. Copy the function to the range J13:J39.

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You want to calculate agent commissions based on their role. In cell K12, insert the IFS function to calculate the agent’s commission based on the agent code and the applicable rates in the range L2:L4. Use relative and mixed references correctly. Copy the function to the range K13:K39.

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You want to calculate a bonus if the sold price was at least equal to the listing price, and if the house sold within 30 days after being listed. In cell L12, insert an IF function with a nested AND function to calculate a bonus. The AND function should ensure both conditions are met: Sold Price divided by the Listing Price is greater than or equal to 100% (cell L7) and the Days on Market are less than or equal to 30 (cell L8). If both conditions are met, the bonus is $1,000 (cell L9). Otherwise, the bonus is $0. Use mixed cell references to the input values in the range L7:L9. Copy the function to the range L12:L39.

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The top-left section of the spreadsheet is designed for summary statistics for one condition. You will calculate average selling prices and the number of houses sold in each city (the condition). In cell B2, insert the AVERAGEIF function to calculate the average Sold Price for houses in the city of Alpine. Use mixed references for the range; use a relative reference to cell A2. Copy the function and use the Paste Formulas option to paste the function in the range B3:B5 so that the bottom border in cell B5 is preserved.

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You want to count the number of houses in one city. In cell C2, insert the COUNTIF function to count the number of houses in the city of Alpine. Use mixed references for the range; and use a relative reference to cell A2. Copy the function and use the Paste Formulas option to paste the function in the range C3:C5 so that the border in cell C5 is preserved.

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You want to calculate the total commissions for each agent (the condition). In cell B7, insert the SUMIF function to total the commissions by agent. Use mixed references for the ranges; and use a relative reference to cell A7. Copy the function and use the Paste Formulas option to paste the function in the range B8:B9 so that the borders are preserved.

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The top-middle section of the spreadsheet is designed for summary statistics for multiple conditions. You will calculate the number of houses sold for each agent when he or she served as a Dual Agent (DA). Use mixed references for ranges and the agent code condition in cell J3. Use relative cell references to the agent condition in cell E2. When you copy the formulas, use the Paste Formulas options to preserve border formatting. In cell F2, insert the COUNTIFS function in cell F2 to count the number of houses sold by the first agent (cell E2) who was a Dual Agent (DA) (J3) for that house. Use all cell references in the function. Copy the function to the range F3:F4 and preserve the bottom border for cell F4.

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You are ready to calculate the total value of those houses for each agent when he or she served as a Dual Agent (DA). Use mixed references for ranges and the agent code condition in cell J3. Use relative cell references to the agent condition in cell E2. When you copy the formulas, use the Paste Formulas options to preserve border formatting. In cell G2, insert the SUMIFS function to sum the selling prices of the houses sold by the first agent (cell E2) who was a Dual Agent (DA) (J3) for that house. Copy the function to the range G3:G4 and preserve the bottom border for cell G4.

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Now, you will calculate the highest-price house highest-price house sold for each agent when he or she served as a Dual Agent (DA). Use mixed references for ranges and the agent code condition in cell J3. Use relative cell references to the agent condition in cell E2. When you copy the formulas, use the Paste Formulas options to preserve border formatting. In cell H2, insert the MAXIFS function in cell H2 to display the highest-price house sold by the first agent (cell E2) who was a Dual Agent (DA) (J3) for that house. Copy the function to the range H3:H4 and preserve the borders in the range H3:H4.

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The Map worksheet contains a list of cities, postal codes, and average house sales. You will insert a map chart to depict the averages visually using the default gradient fill colors. Display the Map worksheet, select the range B1:C5 and insert a map chart.

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You want to enter a meaningful title for the map. Change the map title to Average Selling Price by Zip Code.

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You want to customize the map. Display the Format Data Series task pane, select the option to display only regions with data, and show all labels. Close the task pane. Identify which option you selected by typing X in the cell in front of the correct option in the range A25:A30. Cut the map chart and paste it in cell A7. Set a 2.31" height and 3.62" width.

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You are ready to start working on the Loan worksheet. Your first task is to insert a function to display a date one month from an existing date. Display the Loan worksheet. In cell A9, insert the EDATE function to add one month to the date in cell A8. Format the cell with Short Date number format. Copy the function to the range A10:A19.

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The EDATE function results need to be formatted. Select the range A9:A19. Apply Right horizontal alignment and indent once.

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You are ready to start completing the loan amortization table. In cell C8, type a reference formula to cell B1. The balance before the first payment is identical to the loan amount. Do not type the value; use the cell reference instead. In cell c9, subtract the principal from the beginning balance on the previous row. Copy the formula to the range C10:C19.

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Now, you will calculate the interest for the first payment. In cell D8, calculate the interest for the first payment using the IPMT function. Copy the function to the range D9:D19.

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Next, you will calculate the principal paid. In cell E8, calculate the principal paid for the first payment using the PPMT function. Copy the function to the range E9:E19.

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The range D2:E3 contain a summary section for cumulative totals after the first year. In cell E2, insert the CUMIPMT function that calculates the cumulative interest after the first year. Use references to cells B8 and B19 for the period arguments.

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The next summary statistic will calculate the principal paid after the first year. In cell E3, insert the CUMPRINC function that calculates the cumulative principal paid after the first year. Use references to cells B8 and B19 for the period arguments.

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Rows 22-24 contain a section for what-if analysis. In cell B23, use the RATE financial function to calculate the periodic rate using $1,400 as the monthly payment (cell B22), the NPER, and loan amount in the original input section.

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In cell B24, calculate the APR by multiplying the monthly rate (cell B23) by 12.

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Save and close Exp22_Excel_Ch07_ML1_RealEstate.xlsx. Exit Excel. Submit the file as directed.

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Total Points

100