A Letter to My EDM 310 Students

Thursday, April 23, 2009

Spreadsheet Exam Part B

Next Monday or Tuesday you will take the Spreadsheet Exam Part B. What will it cover?

Loans (How do loans work? When the bank gets a payment from you on a loan, how is that payment allocated? How is the interest included in that payment calculated? When we say the principal of a loan has been reduced, what do we mean? What should you NEVER tell a car salesman and why? Be able to set up a loan table, solve for the 4 key elements in a formula dealing with loans (PV, RATE, NPER, PMT), Set up a Payout Table, Extend down, Extend a DATE down using the EDATE function).

How do you prepare for Part B? PRACTICE. Read the handouts, watch the movies!

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