Start Excel. Open the downloaded Excel workbook named Exploring_e02_Grader_IR.xlsx.
In cell G5, enter a formula that calculates the state sales tax by multiplying the base cost of the car (in F5) by 7%. Copy the formula down to cells G6:G16.
In cell H5, enter a formula that adds the sales tax (in G5) to the base price of the car (in F5). Copy the formula down to cells H6:H16.
In cell I5, enter a function to calculate a monthly payment for buyers. The function will refer to the annual interest rate (in D21) divided by 12, a loan term of 48 months, and the total cost of the car (in H5). Refer to the annual interest rate (D21) as an absolute cell reference. Copy the function down to cells I6: I16.
In cell J5, create a VLOOKUP function that returns the salesperson commission that corresponds with the base cost of the car (in F5). Use the range $C$24:$D$28 as the Lookup Table, and return the commission rate from Column 2.
Copy the VLOOKUP function down to cells J6:J16.
In cell G19, enter a function to sum cells H5:H16.
In cell G20, enter a function to average the cells in the range H5:H16.
In cell G21, enter a function to find the lowest value in the range H5:H16.
In cell G22, enter a function to find the highest value in the range H5:H16.
In cell G23, enter a function that will return the value of today's date.
In cell G24, enter an IF function that will calculate a bonus for the part-time sales agents. If the value in cell G19 (Total for all sales) is greater than 250000, then multiply G19 by .015. Otherwise, the function will return a value of 0 (i.e. no bonus).
Format cell G24 with the Currency format and two decimal places.
In cell C17, enter a function that counts the number of entries in the range C5:C16.