DB Calculations, writing homework help
The CEO has decided to plan for a salary action affecting a number of individuals in the organization. He has decided to give a $2,000 cost-of-living pay increase to all hourly employees and a $4,000 increase to all software analysts with salaries less than $55,000. However, he wants to do this in 2 years. He wants you to give him two options (you do not have to recommend an option).
Option 1: How much would he have to invest today in a single lump sum at a 6% annual interest rate compounded quarterly to have sufficient funds to execute his plan?
Option 2: How much would he have to invest in equal monthly payments at a 3% annual interest rate compounded monthly to have sufficient funds to execute his plan?
Part 1: Select the following link to download the Microsoft Excel spreadsheet for this assignment: Individual Project Data.
Because the CEO wants to increase salaries for all hourly employees and software analysts, there needs to be a count of the employees in each category.
- Create an additional worksheet named “DB Calculations.”
- Set up a criteria range in the first few rows and columns to identify all hourly employees. Use this criteria in the Advanced Filter feature to extract all hourly employees.
- Set up a second criteria range in the columns next to the first to identify the software analysts with salaries less than $55,000. Use this criteria in the Advanced Filter feature to extract all hourly employees.
- In any cell beneath each criteria range, use the DCOUNT function to calculate the number of hourly employees using the first criteria range, and then again to calculate the number of software analysts with salaries less than $55,000.
- Multiply the count of hourly employees by 2,000, and the count of software analysts with salaries less than $55,000 by 4,000. The sum of these two numbers will be the total funding needed to execute the CEO’s plan.
Part 2: Use the funding you calculated in Part 1 and the appropriate compound interest formulas you learned in business algebra to calculate the investment amounts for options 1 and 2. Show your calculations in any empty area on the worksheet created in Part 1.
Hints:
Excel Functions:
PV – Returns the present value of a future amount
PMT – Calculates the payment necessary to accumulate a future amount
Compound Interest Formulas:
A = P(1 + i)^{n}
FV = PMT × | (1 + i)^{n} – 1 |
i |
Tutor Answer
I have attached the solution. Please review before submitting.
First
Miao
Gillian
Gil
Jack
Mai
Kathy
Ria
Ping
James
Lo
Egg
Catherine
Joe
Sam
Jack
Vernon
Marisa
Thomas
Michael
Louis
Jeremy
Ely
Jack
William
Wah
S.W.
Nina
Jon
Janice
Raj
Ben
Wang
Eddie
Joe
Leonard
Derek
Matthew
Charles
Cal
Grace
Last
Full Name
Yin
Yin, Miao
Forster
Forster, Gillian
Joubert
Joubert, Gil
Otega
Otega, Jack
Linh
Linh, Mai
Chang
Chang, Kathy
Park
Park, Ria
Hong
Hong, Ping
Chow
Chow, James
Pan
Pan, Lo
Shen
Shen, Egg
Hale
Hale, Catherine
Higgins
Higgins, Joe
Barber
Barber, Sam
Galagher Galagher, Jack
Hayden
Hayden, Vernon
Ruiz
Ruiz, Marisa
Gabriel
Gabriel, Thomas
Bowman Bowman, Michael
Emerson Emerson, Louis
Walker
Walker, Jeremy
Looker
Looker, Ely
Burton
Burton, Jack
Bell
Bell, William
Ku
Ku, Wah
Wicks
Wicks, S.W.
Sharpe
Sharpe, Nina
MacKlane MacKlane, Jon
Chon
Chon, Janice
Kang
Kang, Raj
Chan
Chan, Ben
Chi
Chi, Wang
Lee
Lee, Eddie
Turner
Turner, Joe
Atwood
Atwood, Leonard
Webster Webster, Derek
Farell
Farell, Matthew
Sumner
Sumner, Charles
Liteman
Liteman, Cal
Law
Law, Grace
Location
Kobe, Japan
Seattle, Washington
Seattle, Washington
Kobe, Japan
Kobe, Japan
Kobe, Japan
Kobe, Japan
Kobe, Japan
Kobe, Japan
Kobe, Japan
Kobe, Japan
Seattle, Washington
Seattle, Washington
Seattle, Washington
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