Microsoft Office Tutorials and References
In Depth Information
Developing a Savings Plan
5. Select the range B4:C4 , and then drag the fill handle to cell . The values G4
entered in the series—500, 600, 700, 800, 900, and 1000—are the different
amounts the Drakes might transfer into their home savings account each month.
Trouble? If the number 600 was entered in each cell instead of the series, you
probably did not select both cells B4 and C4 before dragging the fill handle.
Repeat Step 5, being sure to select both cells before filling.
6. In the range A5:A7, enter the values , , and . These monthly values are 36
equal to one year, two years, and three years, respectively. You entered the
years in months because Diane and Glenn plan to deposit money into their home
savings account each month. So, they would make 12 deposits in one year,
they would make 24 deposits in two years, and they would make 36 deposits in
three years.
7. Format the nonadjacent range B4:G4;A5:A7 with the Input cell style.
Next, you’ll enter formulas to calculate the amount of money saved under each plan.
The amount saved is equal to the number of months of savings multiplied by the deposit
per month. You’ll create this table using the same formulas with mixed cell references
discussed earlier in Figure 3-8.
To enter formulas with mixed references to calculate the savings
amounts:
1. In cell , enter =$A5*B$4 . This formula uses mixed references to calculate the B5
amount of savings generated by saving $500 per month for 12 months. The
calculated value 6000 is displayed in the cell.
2. Select cell and drag the fill handle over the range C5:G5 to calculate total B5
ings over 12 months for deposits of $500 to $1,000 per month.
3. With B5:G5 still selected, drag the fill handle down to to apply the formula to G7
the remaining cells in the multiplication table.
4. Format the values in the range B5:G7 using a thousands separator with no digits
to the right of the decimal point, and add a border around each of the cells in
the range.
5. Click cell . Figure 3-27 shows the completed and formatted values. B5
Figure 3-27
Savings plan table
formula uses mixed cell references
to multiply each column value by
each row value
total amount
saved over 12, 24,
and 36 months
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