Spreadsheet Task: Bank of Cyprus

Open a new spreadsheet and enter the data as shown above. (in the correct cells)

The bank of Cyprus pays 8% interest rate on balances less than or equal to 50000, and 10% on balances
more than 50000.

Enter an IF formula in C4 to calculate the interest rate for Larry Adams. Replicate this formula down to
C8.

Format C4:C8 to be a percentage with no decimal places.

Next we need to calculate how much Interest has been earned by each customer, to do this multiply the
starting balance with the Interest rate. This formula should go in D4. Replicate it down

The bank charges 15% tax on interest earned over 5000, insert a new column between columns D and E.

Add a heading “Interest after tax”

Enter the value 15% in E2 (label this cell tax)

In E4 enter an IF formula so that if the interest earned is more than 5000 then it will minus 15% of the
interest, if the interest earned is not more than 5000 then just display the interest earned.

The final balance of the customers will add the starting balance with the Interest after tax.

Format all cells displaying money to be currency with a euro symbol.

Add five customers to the table and provide them with a made up starting balance. Replicate your
formulas to include the new customers.

Format your spreadsheet as much as possible to make the data organized and clearly readable. Make
your worksheet look like a professional invoice.

Insert conditional formatting on cell range C4:C13 so that if the rate is 8% the cell will be BLUE and if the
rate is 10% it will be YELLOW.