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Microsoft Excel is the computer equivalent of a paper accounting tool, the ledger. In the days before computers, you would keep track of accounts on paper. Now, you can do this using Excel.
A spreadsheet consists of:
Three basic types of data can be entered in a spreadsheet:
Spreadsheets are frequently used to make "what-if" calculations. For example, suppose I were considering a car loan of $12,000 and wanted to compare monthly payments of 36 as opposed to 60 months (3 vs. 5 yrs). My first spreadsheet to calculate the payments over 60 months could look like this:
When I change the number of payments to 36, a new monthly payment amount is figured:
Another way to use Excel is to enter numbers and chart them. Suppose, for example, you had run across information from the Bureau of the Census that showed likely annual earnings given educational attainment. You put these figures into an Excel spreadsheet:
To make your chart, first highlight the part of the spreadsheet that has the information you want to chart:
Click
on
Select the type of chart you want, click Next, and go through the steps the Wizard sets up for you. Several clicks later, you have your chart!
Your turn! Let's say you are writing something about the rising cost of college textbooks. You find these figures about how textbook costs have gone up in recent years. Open an Excel spreadsheet (Start -> Excel). Type in the data, then chart them! CPI (Consumer Price Index) for Cost of College Textbooks
If you're really interested in college textbook costs -- A recent study by Senator Charles Schumer (D-NY), released September 2003, shows that prices of college textbooks have risen by 41% since 1998. Many students are paying over $1000 per semester for their textbooks. The National Association of College Stores (NACS) estimates the size of the college textbook market to be $7.8 billion (based on 2001/02 academic year). College textbook prices rose by 6.7% in 2003, compared to a 3.3% increase in trade book prices. Feel free to look of your own data to chart. Let me know if I can help you find and chart the data. Want to learn more about Excel? There are plenty of tutorials on the Web! Go to the Web Workshops page, and click on Learn More on Your Own! (over on left). How to get to this page on the Internet
Topsy N. Smalley last rev. 10/19/03 |
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What
goes into cell B7 are instructions that tell Excel to figure the payment.
The name of the Excel function that calculates the payment for a loan
based on constant payments and a constant interest rate is PMT. You
can do elaborate accounting with Excel.
in the toolbar
(towards top of screen) to activate the Chart Wizard. 
