1. You have ten problems – one on each tab of this Excel file.
2. Please show your work in the cells. Use Excel formulas instead of writing the values/answers directly in the cell.
The instructor will then know where you made a mistake and provide you valuable feedback and partial credit (if appropriate).
3. The grey cells are data values which are given (known values). The yellow cells are unknowns and have to be determined.
Total Points: 6
Problem 1
A scale drawing of an office building is not labeled, but indicates 0.25 inch = 5 feet.
On the drawing, one wall measures 2 inches. How long is the actual wall?
Inches
Feet
0.25
5
2
=A6*B5/A5
Refer to the Solved Example 5 on Page 166 of your text.
Problem 2
Marcus James purchased 2,500 pounds of produce. Records indicate he purchased 800 pounds of potatoes,
150 pounds of broccoli, and 390 pounds of tomatoes. He also purchased apples. How many pounds of apples
did he purchase?
Total produce
2,500
pounds
Potatoes
800
pounds
Broccoli
150
pounds
Tomatoes
390
pounds
Apples
1,160
pounds
=C5-C6-C7-C8
Refer to the Solved Example 1 on Page 163 of your text.
Problem 3
The formula for the installment price of an item purchased with financing is Installment price = Total of installment payments + Down payment.
The formula can be written in symbols as I = T + D.
Part a
Find the installment price I if T = $24,846.38 and D = $2,500.
=
+
Installment Price (I)
=
Total Installment Payments (T)
+
Down Payment (D)
Part b
Find the down payment for an installment loan if the installment price is $13,846.76 and the total of installment payments is $10,673.26.
=
+
Installment Price (I)
=
Total Installment Payments (T)
+
Down Payment (D)
Part c
Find the total installment payments if I = $6,508.72 and D = $2,250.
=
+
Installment Price (I)
=
Total Installment Payments (T)
+
Down Payment (D)
Problem 4
Wallpaper costs $12.97 per roll and a kitchen requires 9 rolls. What is the cost of the wallpaper needed to paper the kitchen?
Cost
$12.97
per roll
Total rolls needed
9
Total cost to paper kitchen
$116.73
=Cost*Total rolls needed
Problem 5
Wilson’s Auto, Inc., has 37 employees and a weekly payroll of $10,878. If each employee
makes the same amount, how much does each make?
Total no. of employees
37
Total weekly payroll
$10,878
Earnings per employee
$249
=Total weekly payroll/Total no. of employees
Problem 6
Jacob Kennedy borrowed $30,000 to start up his consulting business. The loan had a simple interest
rate of 6.2% for 3 years. Use the formula I = PRT to find the amount of interest he will pay on the loan.
I = interest; P = principal; R = rate (expressed as a decimal 0.062); T = time in years
Principal (P)
Interest (R)
6.2
Time (T)
3
years
Simple Interest (I)
=P*R*T
Problem 7
A car odometer increased from 37,580.3 to 42,719.6. What was the increase?
New Value
42,719.6
Original Value
37,580.3
Amount of increase
5,139.3
=New value – Original Value
Absolute Change
Problem 8
A number decreased from 486 to 104. Find the amount of decrease.
New Value
104
Original Value
486
Amount of change
382
=New value – Original Value
Absolute Change
Problem 9
A number increased from 224 to 336. Find the percent of increase.
New Value
336
Original Value
224
Amount of increase
112
Absolute Change
Percentage increase
50.0%
=Absolute Change/Original Value
Relative Change
Problem 10
A number decreased from 250 to 195. Find the rate of decrease.
New Value
195
Original Value
250
Amount of change
55
Absolute Change
Percentage change
22.0%
=Absolute Change/Original Value
Relative Change
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