Question
Khalid keeps a spreadsheet to record his expenses and to plan for future spending. This spreadsheet is split into two separate sheets, which he has named Plan and Model.
Plan contains details of his future spending.
Model contains a model of his income and expenses.
Plan
A B C D
% of % of
1 Income Statement spending income
2 Income 63,784
3
4 Expenditure items
5 Taxes 12,757 22.22% 20%
6 Housing 19,135 33.33% 30%
7 Food 6,378 11.11% 10%
8 Transportation 9,568 16.67% 15%
9 Entertainment / Other 6,378 11.11% 10%
10 Healthcare 3,189 5.56% 5%
11
12 Investment return 4%
13 Income Growth 2.5%
14 Expense Ratio % 90%
15
Model
A B C D E F G
1 Model
2 2020 2021 2022 2023 2024 2025
3
4 Income 63,784 65,379 67,013 68,688 70,406 72,166
5 Investment Income 255 527 816 1,123 1,450
6 Total Income 63,784 65,634 67,540 69,504 71,529 73,616
7
8 Taxes 12,757 13,076 13,403 13,738 14,081 14,433
9 Housing 19,135 19,614 20,104 20,607 21,122 21,650
10 Food 6,378 6,538 6,701 6,869 7,041 7,217
11 Transportation 9,568 9,807 10,052 10,303 10,561 10,825
12 Entertainment / Other 6,378 6,538 6,701 6,869 7,041 7,217
13 Healthcare 3,189 3,269 3,351 3,434 3,520 3,608
14 Total Expenses 57,405 58,842 60,312 61,820 63,366 64,950
15
16 Net Income (Savings) 6,379 6,792 7,228 7,684 8,163 8,666
17
18
19 Balance Sheet
20 Savings 6,379 13,171 20,399 28,083 36,246 44,912
21 Can I afford a car? N N N N Y Y
22
(a) Khalid has entered a formula in cell C4 of the Model sheet. The formula is B4+(B4*Plan!$B13)
Explain, in detail, what the formula does. Include in your answer an explanation of why the $ and the ! are used in the formula.
…… [5]
(b) He is saving up to buy a new car; this will cost at least $35,000.
Khalid has entered a formula in cell B21 of the Model sheet. The formula is
IF(B20>35000,"Y","N")
Explain, in detail, what the formula does.
…… [3]
Plan
A B C D
% of % of
1 Income Statement spending income
2 Income 63,784
3
4 Expenditure items
5 Taxes 12,757 22.22% 20%
6 Housing 19,135 33.33% 30%
7 Food 6,378 11.11% 10%
8 Transportation 9,568 16.67% 15%
9 Entertainment / Other 6,378 11.11% 10%
10 Healthcare 3,189 5.56% 5%
11
12 Investment return 4%
13 Income Growth 2.5%
14 Expense Ratio % 90%
15
(c) Khalid is planning to create an appropriate graph/chart to be placed in a new sheet. The graph/chart will display the % of income and the names of the expenditure items from the
Plan sheet.
Identify the most appropriate graph/chart he could use and describe the steps he needs to take to produce this graph/chart in a new sheet.
…… [7]
Question 7 starts on page 10.