This is a follow-up to your first Excel assignment which asked you to create a budget.
You can review it by clicking here.
In this assignment, you will use Excel formulas to figure out how many hours you will have to work in order to pay your monthly expenses. Remember that you are an 18 year old college freshman attending UC Berkeley. Leave time for school. Most full time jobs require you to work 40 hours a week or 120 hours a month.

Click here to see an example of this assignment.

1. Open up the file that you saved as "excelbudget". Then go to File, choose Save As and save it as "yourlastnameexcelbudget". For example: milsteadexcelbudget.

2. Leave one blank row below your expense totals from part 1.

3. Enter the following row titles:

hourly wages
hours worked
before taxes
after taxes
loan amount

The information should be in the same column as your expense row titles (rent, food, travel, etc.) in Column A. Look at the example below.

4. In the cell next to "hourly wages" type in $8.00. If you want to make more, read the section to the left and convince me. Then enter that hourly amount. Otherwise, eight bucks is the deal.

5. Enter the number of hours you want to work in a month in the cell next to "hours worked". Don't worry about being exact - you can change it later.

6. Create a formula in the cell next to the phrase "before taxes" that multiplies the hourly wages times the number of hours worked. Remember, in Excel you multiply using an asterisk (*) between the cell numbers. Your formula should look something like this: =B6*B7. Press enter after you create your formula.

7. In the cell next to "before taxes" you will see how much money you will make that month before taxes are taken out of your paycheck.

8. Copy your "before taxes" formula across the bottom of your chart.

9. TAXES: Twenty percent of your hourly wage goes to state and federal taxes as well as social security. This money is removed from your paycheck before you know it! This amount is how much money you can spend each month.

10. In the cell next to "after taxes" create a formula that shows how much money you earn after taxes are removed. To create the formula, multiply your "before taxes" amount by .8. Your formula will look like =B13*.8.

11. In the cell next to loan amount use an Excel formula to figure out how money you will have to borrow each month. To figure this out you have to subtract your after tax earnings from your total expenses for each month. Your formula will look like: =B9-B14.

12. Create two graphs as new sheets:
Graph 1 (line graph) will show how many hours you work each month. HINT: use the control key (CTRL) to select the months and the hours worked.
Graph 2 (column graph) will show how much you earn AFTER taxes and your expenses per month. HINT: use the control key (CTRL) to select months, total expenses and after tax earnings.

Done? Follow these instructions:
1. Print out your line graph and column graph. You do not need to print out your spreadsheet.
2. Copy your spreadsheet to the Milstead folder that can be found on the "Raid on 'Pirate1' (M:)" in the _Student folder. This is the same place that you saved your PowerPoints before. Make sure that you renamed your file to yourlastnameexcelbudget.

Can you make more than $8.00 an hour?

If you want to give yourself a raise, find a job using your online research skills. Make sure that you are qualified for the job:

-you are 18 years old
-working on your college degree
-you cannot work full time.
-what kind of experience do you have?
-job must be appropriate and approved by Mr. Milstead.

When you have found the job, print out the job description or listing and then enter that hourly wage into Excel.

Try looking in google for "job search" or "employment search".