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Playing "what if"

From: Office 2008 for Mac: Small Business Projects

Video: Playing "what if"

Now, believe it or not, I have a degree in accounting. I have this thing about numbers, and I think spreadsheets are really cool. What's so cool about them? Mostly the ability to play "what if." To go to a worksheet like this and plug in new numbers for the assumptions, just to see how the rest of the numbers change. Let's give it a try. Now, if you've followed along in the previous video build to build your own Amortization Table worksheet, you should have something like this in front of you. If not, you can open the one in the Exercises folder. It's called Amortization. Otherwise you are just going to have to watch me have all the fun.

Playing "what if"

Now, believe it or not, I have a degree in accounting. I have this thing about numbers, and I think spreadsheets are really cool. What's so cool about them? Mostly the ability to play "what if." To go to a worksheet like this and plug in new numbers for the assumptions, just to see how the rest of the numbers change. Let's give it a try. Now, if you've followed along in the previous video build to build your own Amortization Table worksheet, you should have something like this in front of you. If not, you can open the one in the Exercises folder. It's called Amortization. Otherwise you are just going to have to watch me have all the fun.

Now, suppose the car you want to buy will require a $30,000 loan instead of a $20,000. You could plug in the new number. Just type up here next to Principal and type in $30,000. When you press Return or Enter, the worksheet changes, the new payment, the new interest, and all that. What if you change the percentage rate? What if you got a better interest rate, only 7%? Again, it all changes. What if you are going to pay over 4 years instead of 5? It all changes. Now, what if you are buying a house or a building instead of a car? Let's put in $200,000 up here, and then maybe your interest rate is a little bit better, say 6%.

Probably not going to pay for that over 4 years, maybe it will be 15. So I have changed all three of these values here and it changes accordingly. What's scary here is the amount of interest paid over the term of that loan. Keep in mind that if you do change this to more years, 15, now if you scroll down in this worksheet, it only goes up to the first 5 years. So what you would want to do is you would want to copy this information down if you want the detail for every single year. It's pretty easy. You just select it and drag down. I will show you. I will select 2 to make sure we get the right years, and just go down, and you see how it all changes.

You would want to move that down for the number of months that you need. Just to show you, if you took that house payment and you did it over 30 years instead of 15, most people would want to do something like that to change the monthly payment. Let's just change it to 30 to see what happens. And sure, the monthly payment has gone down quite a bit. But if you look your interest paid now is more than the original principal, which means that over the 30 years you will have paid out $431,000, which is a lot of money.

But you get the idea. Spreadsheets are pretty cool. While an Amortization Table can clearly show you how much of each monthly payment goes towards interest and principal, the assumptions and the main calculations area can be a vital decision making tool. By playing "what if" to evaluate different loan options, you can clearly see how much each loan will cost you. Hopefully, this information can help you make a better financial decision.

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This video is part of

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Office 2008 for Mac: Small Business Projects

75 video lessons · 3951 viewers

Maria Langer
Author

 
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  1. 1m 44s
    1. Introduction
      1m 0s
    2. Using the exercise files
      44s
  2. 12m 33s
    1. Overview
      1m 52s
    2. Changing default font style settings
      4m 49s
    3. Setting default document options
      2m 50s
    4. Working with the normal template
      3m 2s
  3. 34m 42s
    1. Overview
      2m 24s
    2. Setting basic letterhead options
      11m 16s
    3. Adding a second page to the letterhead
      5m 21s
    4. Adding logos
      4m 27s
    5. Saving the letterhead template
      2m 32s
    6. Using the letterhead template
      2m 31s
    7. Modifying templates
      3m 30s
    8. Working with template files
      2m 41s
  4. 17m 8s
    1. Overview
      37s
    2. Creating envelopes from letters
      4m 54s
    3. Creating envelopes on the fly
      2m 43s
    4. Printing envelopes
      5m 10s
    5. Customizing the normal template for envelopes
      3m 44s
  5. 9m 51s
    1. Overview
      1m 17s
    2. Using the Label tool
      6m 54s
    3. Printing labels
      1m 40s
  6. 15m 22s
    1. Overview
      3m 5s
    2. Building a basic layout
      3m 48s
    3. Formatting the text and adding a logo
      4m 7s
    4. Finishing up the cards
      4m 22s
  7. 24m 29s
    1. Overview
      1m 27s
    2. Setting page options
      2m 12s
    3. Changing background colors
      3m 49s
    4. Entering content
      5m 26s
    5. Including images
      5m 40s
    6. Distributing the flyer
      5m 55s
  8. 14m 16s
    1. Overview
      1m 15s
    2. Creating categories
      2m 38s
    3. Assigning categories to contacts
      5m 8s
    4. Viewing contacts by category
      5m 15s
  9. 17m 26s
    1. Overview
      1m 26s
    2. Preparing the main documents
      5m 0s
    3. Linking the data to the document
      5m 48s
    4. Completing the mail merge
      5m 12s
  10. 11m 17s
    1. Overview
      1m 29s
    2. Creating e-mail signatures
      6m 45s
    3. Associating signatures with addresses
      3m 3s
  11. 26m 16s
    1. Overview
      1m 10s
    2. Building an outline
      7m 25s
    3. Formatting the document
      10m 45s
    4. Adding a title page and a table of contents
      6m 56s
  12. 31m 6s
    1. Overview
      1m 55s
    2. Creating the Excel invoice
      14m 54s
    3. Preparing the Word invoice
      8m 16s
    4. Using the invoice template
      6m 1s
  13. 24m 38s
    1. Overview
      1m 8s
    2. Building the receivable worksheet
      5m 6s
    3. Entering invoices and payments
      7m 53s
    4. Sorting and filtering lists
      5m 52s
    5. Printing statements
      4m 39s
  14. 16m 37s
    1. Overview
      1m 34s
    2. Building the amortization worksheet
      12m 21s
    3. Playing "what if"
      2m 42s
  15. 10m 58s
    1. Overview
      1m 3s
    2. Creating the worksheet
      5m 30s
    3. Solving for your goal
      4m 25s
  16. 17m 46s
    1. Overview
      1m 6s
    2. Setting up projects
      7m 18s
    3. Adding documents to projects
      5m 2s
    4. Viewing by project
      4m 20s
  17. 10m 20s
    1. Overview
      1m 8s
    2. Creating Entourage events
      4m 32s
    3. Responding to event invitations
      2m 50s
    4. Modifying scheduled events
      1m 50s
  18. 25m 53s
    1. Overview
      1m 7s
    2. Creating themes
      5m 27s
    3. Importing Word outlines
      11m 42s
    4. Adding transitions
      7m 37s
  19. 30s
    1. Goodbye
      30s

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