2012 S02 P03 EXCEL

Use the provided information and answer the following questions:

Note: Where it is indicated that your formula will be copied to other cells, your formula must take absolute and relative addresses into account, but only where necessary!

Mr Trout, a wealthy businessman who is the owner of Fish O’ Mari, a fish and chips takeaway restaurant, is your dear friend. Mr Trout is interested in buying himself a new sports car but is unsure what the monthly installments will be.

Mr. Trout received quotes for four (4) sports cars from Sports Unique, a sports car dealer. Sports Unique also provides financing options with motor vehicles purchased from them. Sports Unique will finance motor vehicles for a term of 5 years at a monthly interest rate of 1%, with installments being payable at the end of the month.

Mr. Trout asked you to help him with calculating the monthly installments for each of the motor vehicles and provide you with the relevant information as received from Sports Unique. Mr. Trout has indicated that he cannot afford to pay more than R55 000 per month on a new sports car installment.

Mr. Trout gave you the following information:

• The car reference is a combination of the make and model of the motor vehicle and is separated by a dash “-“.

You have created the following spreadsheet:


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