Here are suggested solutions for Problem Set #1:

PS1 Suggested Solutions

Please note that, although Microsoft Excel may have built-in functions that often accomplish what otherwise take several steps and formulas, you should know and understand the calculations that Excel is running in the background.

Also, whenever relying upon Excel formulas, please make sure that you carefully review (e.g., via the Help menu) the assumptions and inputs incorporated into the Excel formula to avoid unintended and unanticipated results.