Insurance Premium Worksheet Problem

Lab 1:

Insurance Premium Worksheet Problem: You are a part-time assistant in the accounting department at Aylin Insurance, an Orlando-based insurance company. You have been asked to use Excel to generate a report that summarizes the existing balances on annual premiums, similar to the one shown in Figure 2–72. Include the three columns of customer data in Table 2-6 in the report, plus two additional columns to compute a monthly fee and a current balance for each customer. Assume no negative unpaid monthly balances.

Perform the following tasks:

1. Enter and format the worksheet title Aylin Insurance and worksheet subtitle Premium Analysis in cells A1 and A2. Change the theme of the worksheet to the Berlin theme. Apply the Title cell style to cells A1 and A2. Change the font size in cell A1 to 26 points, and change the font size in cell A2 to 18 points. Merge and center the worksheet title and subtitle across columns A through E. Draw a thick outside border around the range A1:A2.

2. Change the width of column A to 20.00 points. Change the widths of columns B through E to 14.00 points. Change the heights of row 3 to 36.00 points and row 14 to 25.50 points.

Table 2 – 6 Aylin Insurance Premium Data

Customer Previous Balance Payments

Albasco, Robin 1600.72 72.15

Deon, Jade 1518.62 382.3

Goodman, Brad 679.29 80.69

Hill, Raine 1060.42 107.6

Klonde, Albert 1178.83 125.63

Lang, Rose 1280.2 79.85

Moore, Jeffrey 1253.88 389.79

Piper, Taylor 477.11 278.52

Sothens, Mary 821.31 153.14

3. Enter the column titles in row 3 and row titles in the range A13:A16, as shown in Figure 2–72. Center the column titles in the range A3:E3. Apply the Heading 4 cell style to the range A3:E3. Apply the Total cell style to the range A13:E13. Bold the titles in the range A13:A16. Change the font size in the range A3:E16 to 12 points.

4. Enter the data in Table 2-6 in the range A4:C12.

5. Use the following formulas to determine the installment fee in column D and the current balance in column E for the ‡rst customer. Copy the two formulas down through the remaining customers. a. Installment Fee (cell D4) = 1% * Previous Balance b. Current Balance (E4) = Previous Balance – Payments + Installment Fee

6. Determine the totals in row 13.

7. Determine the average, minimum, and maximum values in cells B14:B16 for the range B4:B12, and then copy the range B14:B16 to C14:E16.

8. Format the numbers as follows: (a) assign the currency style with a •oating dollar sign to the cells containing numeric data in the ranges B4:E4 and B13:E16, and (b) assign a number style with two decimal places and a thousand’s separator (currency with no dollar sign) to the range B5:E12.

9. Use conditional formatting to change the formatting to white font on an orange background in any cell in the range D4:D12 that contains a value greater than 10.

10. Change the worksheet name from Sheet1 to Loan Balance and the sheet tab color to the Orange standard color.

11. Change the worksheet header with your name, course number, and other information as speci‡ed by your instructor.

12. Use the spelling checker to check the spelling in the worksheet. Preview and then print the worksheet in landscape orientation. Save the workbook using the ‡le name, Lab 2-1 Aylin Insurance Premium Analysis