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Category > Accounting Posted 15 Apr 2020 My Price 10.00

CMPSC 203 Week 3 IF statement Application For Personal Loan

Personal Loan Calculator You have been tasked with generating a loan approval workbook that will determine if an applicant is eligible for a personal loan and if so, what the loan rate should be based on a set of pre-defined criteria. The bank manager has created the basic layout of the application she wants to use, but has asked you to provide the formulas that will drive the initial quote. Determine Rate You need to provide a rate for each customer based on their credit score. Any user who has a scores less than 600 should be denied. a. Open e02_exam_chap_data and save as e02_exam_chap_LastnameFirstname. b. Display the Approval Form worksheet and create an IF statement in cell B13 to determine if the applicant is eligible for a personal loan. Use the criteria below as part of your logic statement:  Credit Score < 600 = “Denied”  Credit Score >= 600 = “Approved” c. Create a VLOOKUP function in cell B14 that uses the Credit Score in cell B9 to generate a rate based on the array in cells I4:J10 represent the value as percentage. Determine Rate You will calculate the payment quote for each customer. d. Insert a row in the worksheet above row 15 (Payment). e. Type Periodic Rate: in cell A15. f. Calculate the periodic rate of the loan in cell B15. g. Generate the loan payment in cell B16. Determine Rate You will create a working list of all existing accounts that provides the number of days remaining on their loan and an overall look at all accounts maturity dates. h. Display the Existing Accounts worksheet and calculate the number of days remaining for each existing account. i. Calculate the maximum number of Days Remaining for all existing accounts in cell C17. j. Calculate the minimum number of Days Remaining for all existing accounts in cell C18. k. Calculate the average number of Days Remaining for all existing accounts in cell C19. l. Save and close the file. Based on your instructor's directions, submit e02_exam_chap_LastnameFirstname.

How do I do the IF statement?

 

  • Application For Personal Loan
                         
                    Credit Score Current Rate  
    First Name: Mary             500 6.50%  
    Last Name: Bell             550 6.25%  
    Address: 123 First Street             600 6.00%  
    City, State Zip: Philadelphia, PA 19104             650 5.25%  
    Annual Income:  $                                85,000             700 4.50%  
    Credit Score: 720             750 3.75%  
    Requested Amount:  $                                25,000             800 3.25%  
    # of Payments 120                  
                         
    Decision:                    
    Rate:                    

    Payment:

     

    		      

     

     

Answers

SmartExpert
(118)
Status NEW Posted 15 Apr 2020 04:04 AM My Price 10.00

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Attachments

file 1586924126-IF statement.xlsx preview (25 words )
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