Description
- Calculate the average MPG for each vehicle.
- Calculate the registration fee for each vehicle.
- Determine whether or not you will need a loan for each potential purchase.
- Calculate how much you would need to borrow for each purchase.
- Calculate the monthly payment amount for each loan.
- Compute the monthly cost of gas.
- Compute the monthly cost of maintenance.
- Compute the monthly cost of insurance.
- Determine which vehicles are affordable.
- Complete the Analysis section using formulas with statistical functions. Use named ranges instead of cell references in the formulas.
- Hint: Select cells B7:F24 and use Excel’s Create from Selection command to create named ranges for each row using the labels at the left side of the range as the names.
- Hint: Open the Name Manager and review the names Excel created. Notice that any spaces or special characters in the label names are converted to _ characters in the names.
- Hint: To avoid typos as you create each formula, try using Formula AutoComplete to select the correct range name.
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Explanation & Answer
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Vehicle Purchase
Description
Vehicle 1
Vehicle 2
2019 Ford Mustang Convertible
Vehicle Type
Passenger
Seller
Price
MPG City
MPG Highway
Average MPG
2019 Ford F150
Truck
dealer
$31,895
21
31
26
dealer
$28,115
19
25
22
$600
100
$1,200
$500
100
$800
Yearly Costs
Maintenan...