Using Excel, create a table that shows the relationship between the interestearned and the amount deposited, as shown. we will first create the dollar amount column and the interest row, as shown . Next we will type into cell B3 the formula = $A3*B$2. We can now use the Fill command to copy the formula in other cells, resulting in the table as shown. Note that the dollar sign before A3 means column A is to remain unchanged in the calculations when the formula is copied into other cells. Also note that the dollar sign before 2 means that row 2 is to remain unchanged in calculations when the Fill command is used. The Relationship between the InterestEarned and the Amount DepositedTABLE 14.2Interest RateDollar Amount0.060.070.0750.0810006070758012507587.593.75100150090105112.51201750105122.5131.2514020001201401501602250135157.5168.751802500150175187.52002750165192.5206.252203000180210225240 X v fr=SA3"B$2B3ADEF1 Dollar Amount Interest Rate0.060.070.0750.083100060707580412507587.593.75100150090105112.51201750105122.5131.25140720001201401501602250135157.5168.751802500150175187.5200102750165192.5206.252201130001802102252401212Sheet1FIGURE 14.10Excel spreadsheet for Example 14.2.LL

Companies or depositors deposit money into the bank account and there is an interest which is earned…

Answered: The Relationship between the Interest…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Using Excel, create a table that shows the relationship between the interest
earned and the amount deposited, as shown. we will first create the dollar amount column and the interest row, as shown . Next we will type into cell B3 the formula = $A3*B$2. We can now use the Fill command to copy the formula in other cells, resulting in the table as shown. Note that the dollar sign before A3 means column A is to remain unchanged in the calculations when the formula is copied into other cells. Also note that the dollar sign before 2 means that row 2 is to remain unchanged in calculations when the Fill command is used.

The Relationship between the Interest
Earned and the Amount Deposited
TABLE 14.2
Interest Rate
Dollar Amount
0.06
0.07
0.075
0.08
1000
60
70
75
80
1250
75
87.5
93.75
100
1500
90
105
112.5
120
1750
105
122.5
131.25
140
2000
120
140
150
160
2250
135
157.5
168.75
180
2500
150
175
187.5
200
2750
165
192.5
206.25
220
3000
180
210
225
240

X v fr
=SA3"B$2
B3
A
D
E
F
1 Dollar Amount Interest Rate
0.06
0.07
0.075
0.08
3
1000
60
70
75
80
4
1250
75
87.5
93.75
100
1500
90
105
112.5
120
1750
105
122.5
131.25
140
7
2000
120
140
150
160
2250
135
157.5
168.75
180
2500
150
175
187.5
200
10
2750
165
192.5
206.25
220
11
3000
180
210
225
240
12
12
Sheet1
FIGURE 14.10
Excel spreadsheet for Example 14.2.
LL

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