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Mattie C.
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Microsoft Excel
TutorMe
Question:

You have a set of data that provides details on the student body at your school. Columns provide details like name, major, home state, etc. You have a list of students that are trying to join your club, and you are hoping to easily use this data set to find the home states of each of the students. What would be the best formula to use to do this in an efficient manner?

Mattie C.
Answer:

As long as the formatting of the students names in both documents is the same, the best way to to this is to use the VLOOKUP formula. This formula allows you to lookup values from one column of data within another table, and then provide the designated detail of data needed that corresponds. So, if the student body data has columns listed as Name, Major, Year, Home State, and so on, you can have the home state data transferred over to your other document by looking up the names. The formula is =VLOOKUP(value- the name you are looking up, table-the value you are looking up (in this case the name) needs to be in the far left of the table of data that you select - make sure to lock the selected data by pressing F4, column index - the number of the column that has the data you want if counting across from the column with the name (in this case it would be 4)). If this is applied to the first name in your list, you can drag the formula down so that all the names on your list will be looked up in the other document.

Corporate Finance
TutorMe
Question:

Please calculate the present value of a corporate bond that has a face value of $1000, matures in 5 years, pays an annual coupon payment of $25, and has a discount rate of 9%.

Mattie C.
Answer:

The equation to find the value of a bond is below: Bond Value = c x (1 - 1/(1+r)^t)/r + f/(1+r)^t where: c = coupon payment r = discount rate t = number of periods f = face value So, the Bond Value in this scenario will be: Bond Value = $25 x (1 - 1/(1+.09)^5)/.09 + 1000/(1+.09)^5 Calculated out, this provides us with a present value of this bond of $747.17. Purchasing this bond at this price today will provide annual coupon payments of $25 as well as $1000 when the bond matures in 5 years.

Accounting
TutorMe
Question:

A company buys a piece of machinery at a price of $1,000,000. The machine has a useful life of 10 years, and will not have any salvage value at that point. Using the double declining method of depreciation, what will the amount of depreciation be in year 3?

Mattie C.
Answer:

The double declining method means that the machine depreciates at an accelerated rate than it would with straight line depreciation. It will depreciate at twice the straight line rate. Because this machine will decrease in value from $1,000,000 to $0 in 10 years, the straight line rate would be 1/10, or 10%. We would double this to be 20%, and this would be calculated each year based on the ending value of the machine the year before. It's best to form a chart to track this, as you can see below: Year Initial Value x Depreciation Rate = Amount of yearly depreciation Ending Value 1 $1,000,000 20% $200,000 $800,000 2 $800,000 20% $160,000 $640,000 3 $640,000 20% $128,000 $512,000 We could continue this chart all the way until the end of the machine's useful life (at which point it would be worth $0), but at this point we have the answer we need. In year 3, the amount of depreciation on the machine using the double declining method is $128,000. Subtracting that from the initial value that year provides an ending value of $512,000.

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