Use the IF function to calculate the down payment starting in H11. If type = Finance, then the down payment is 10% of the amount. Else, it is equal to the amount. ### Reid Furniture Store#### Payment Information- **Required Down Payment:** 15%- **Number of Monthly Payments:** 48#### Paid-in-Full Transactions Summary (Day-wise)| Day | Weekday | Metrics ||-----|------------|---------------------------------------------------|| 1 | Sunday | 1. No. of Paid-in-Full Transactions || | | 2. Sum of Paid-in-Full Transactions || | | 3. Average of Paid-in-Full Transactions || | | 4. Average Amount Above $4,000 || | | 5. Highest Paid-in-Full Transaction Amount || 2 | Monday | || 3 | Tuesday | || 4 | Wednesday | || 5 | Thursday | || 6 | Friday | || 7 | Saturday | |#### Transaction Details| Number | Date | Weekday Number | Weekday | Department | Type | Amount | Down Payment | Balance | Last PMT Date ||----------|------------|----------------|----------|------------|----------|---------|--------------|---------|---------------|| 2021-001 | 3/1/2021 | 2 | Monday | Bedroom | Finance | 13,826 | - | 13,826 | - || 2021-002 | 3/1/2021 | 2 | Monday | Bedroom | Finance | 6,880 | - | 6,880 | - || 2021-003 | 3/1/2021 | 2 | Monday | Living Room| Finance | 8,378 | - | 8,378 | - || 2021-004 | 3/1/2021 | 2 | Monday | Living Room| Finance | 12,770 | - | 12,770 | - || 2021-005 | 3/1/2021 | 2 | Monday | Appliances | Finance | 10,496 | - | 10,496 | - ||

In the given question , The values of the column : "Down Payment" have to be evaluated based on the…

Answered: Use the IF function to calculate the…

Use the IF function to calculate the down payment starting in H11. If type = Finance, then the down payment is 10% of the amount. Else, it is equal to the amount.

Np Ms Office 365/Excel 2016 I Ntermed

1st Edition

ISBN:9781337508841

Author:Carey

Publisher:Carey

Chapter3: Performing Calculations With Formulas And Functions

Section: Chapter Questions

Problem 4.7CP

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