Question 1

At Hill University students who register for at least 12 credits are considered Full-Time students and pay $4,320 tuition. Students who register for less that 12 credits are considered Part-Time students and pays $360 per credit. Create a worksheet that allows you to enter a student’s name and the number of credits for which he or she is registering. The worksheet should then display 1) The status of the student (Full-Time or Part-Time) and

2) The amount of tuition owed.

Try your worksheet on the following three students: Maria 15 credits, John 6 credits, Yu 12 credits.

Question 2

In the country of Freedonia, the national currency is the royal. Single people pay no taxes on the first 1,000 royals, 10% on any income between 1,000 and 3,000 royals, 20% on any income between 3,000 to 10,000 royals, and 30% on any income over 10,000. Married people filing jointly pay no taxes on the first 1,000 royals, 8% on any income between 1,000 and 3,000 royals, 15% on any income between 3,000 to 10,000 royals, and 25% on any income in excess of 10,000 royals. So, for example, a single person with an income of 5,000 royals world pay 200 royals for the income between 1,000 and 3,000 and 400 for the income between 3,000 and 5,000 for a total tax bill of 600 royals. Create a worksheet the tax given the marriage status and income. The worksheet also should show the actual percentage of income owed in taxes. In the example given the 600 royals owed represent 12% of income.

Question 3

You are considering purchasing a new car. The price would be $18,239. You would pay $2,000 now and the rest monthly in a four-year loan. The automobile dealership is offering a sales promotion where either 1) you will received a $1,000 rebate check right now and the annual interest rate on the loan will be 11.9% or 2) The annual interest rate on the loan will be 1.9% but there is no rebate.

Create a worksheet to compare the two options by calculating the present value of each of the options, assuming an 8% discount rate. Which is the better deal?

Question 4

As Division Manager you have 20 million to invest in a new project. The Excelsior Project Team says that if you invest with them you will receive returns of 8 million after a year, 10 million after two years and 12 million after three years. The Indela Project Team says that if you invest with them you will receive nothing for the first two years and then 34 million at the end of the third year. Create a spreadsheet that determines which project team offers the better financial return on the investment and elaborate why. The answer “Excelsior project” or “Indela project” should appear in a cell.

Question 5

United Manufacturing is planning on spending up to $4,000,000 on new automated assembly machinery. The have decided to purchase two different models of equipment and are trying to decide how many of each model they should purchase. The F300 model costs $350,000 each. The S250 model costs $220,000 each. The F300 has some extra features so at least one third of the models purchased should be the F300. The annual maintenance budget for the new equipment is set at $120,000. The annual maintenance cost for each F300 is $12,000. The annual maintenance cost of each S250 is $7,500. Each F300 will produce 125 units per day. Each S250 will produce 81 units per day. Set up a worksheet and then use Solver to determine how many of each model to purchase so that the daily production is maximized as long as the other constraints are met.