You are ready to calculate the cost of each class ring ordered. The rings are priced based on their base metal as displayed in the range A15:B19.
a- Insert a lookup function in cell C5 to display the ring cost for the first student.
b- Copy the function from cell C5-C11 to complete column C
You will calculate the total due for each student’s order. The total is the base price of the ring plus an additional charge for personalization if applicable.
a- Insert an IF function in cell E5 to calculate the total due. If the student has chosen to personalize the ring, there is an additional charge of 5% located in cell B21 that must be applied; if not, the student pays only the base price. Use appropriate relative and absolute cell references.
b- Copy the function from cell E5 down through E11 to complete column E.
Your next step is to calculate the periodic payment for each student’s account. The payments are based on the years financed in column F and the annual interest rate in cell B22. All accounts are paid in a monthly basis.
a- Insert the function in cell G5 to calculate the first student’s monthly payment, using appropriate relative and absolute references.
b- Copy the formula down the column.