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FIN 3110 Summer 2020 1 Final Project Background: Congratulations – you have made it to the end of our Financial Modeling course! While you have been introduced to some financial models and various...

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FIN 3110 Summer 2020

Final Project
Congratulations – you have made it to the end of our Financial Modeling course! While you have been
introduced to some financial models and various Excel skills, we still have only scratched the surface of finance
topics, Excel skills, and potential models. Now is the time to impress me.

What to Do:
For your final project, you will create a personal finance model related to personal budgeting. You will identify
a primary question or goal related to this topic and create a model to solve that problem. Your final project
will be comprised of three parts.

Please do not replicate any of the projects covered in the course. Instead, think of real-life cases where you
may be able to use Excel to solve a problem. This could be applying a problem mentioned in a different class,
an issue raised at work, or a personal problem that you wish to make a helpful model for. Your final project
will be composed of three parts and should be completed INDIVIDUALLY.

Part 1 (30 pts)
Part 1 will be a Word document and include:
1- A least a paragraph providing a background on the topic you are creating the model for (tell me about
the personal finance problem you are addressing in your own words)
2- At least one paragraph on when the model is appropriate to use
3- At least one paragraph with instructions related to properly using the model
4- A paragraph highlighting the various Excel skills used in this project. (At least one sentence for each
item listed in part 2 below. Also include a discussion of any other skills used.)

Note: Be sure to use proper citations if you use any outside sources (Investopedia, textbooks, etc.) A paragraph
should be at least 4 sentences to receive full credit.

Part 2(40 pts)
Part 2 will be your model created in Excel. You model at minimum must include:
1- A graph/chart with the appropriate labels
2- Two If Statements (When turning in your project, please highlight the cells with the if statements
yellow, so this requirement is easy to find)
3- A sensitivity analysis using DataTables covered in this course or Vlookup Function (or both). (When
turning in your project, please highlight the cell(s) yellow with the functions, so this requirement is
easy to find)
4- A drop down menu using Data Validation that connects to your model. When the user changes this
selection, the model updates. ). (When turning in your project, please highlight the cell(s) yellow with
this aspect, so this requirement is easy to find)
5- Inputs and outputs clearly labeled
6- Your model should be well formatted and be easy to use.

FIN 3110 Summer 2020

Part 3(30 pts)
Part 3 will be your individual presentation. The presentation at minimum must include:
1- Presentation must be completed using no notes (do not simply read Part 1 of your project or read
prewritten notes to the camera). The presentation should be professional and last between 8 and 12
minutes. The presentation must be at least 8 minutes to be eligible to receive full credit.
2- The presentation must cover at minimum:
a. The model you created, which finance topic it pertains to, and what problem it solves
. How to use the model. Clearly describe the inputs and outputs.
c. How you built the model and why you structured it the way you did.
d. How you incorporated the Excel skills mentioned in part 2. Describe where you use it in your
model and what it does/means.
3- Your presentation should be well-organized, professional, and easy to understand

For your presentation, you may record the presentation on any camera including a cell phone, laptop, or
tablet. Please make sure that the presentation is professional. You should record your face talking about the
project. As you go through your presentation, you may refer to the project, for example by saying “in cell B8 I
include the Data Validation requirement where the user chooses between …” but you do not need to show the
Excel workbook. I will have the Excel portion of your project open and can follow along with it while watching
your presentation.

You may NOT use any project already covered in this class. You may not use a pre-created Excel template (all
work included in the final project should be your own). The final project should be completed as an individual
not as a group and be an original Excel model. All work in the Excel file must be your own.

What to Hand In:
Deposit a copy of your final Excel spreadsheet, Word Document, and presentation video in the Final Project
DropBox for this project on D2L. Note: Your project write up will be run through a plagiarism check. Make sure
that your files are named FinaProjectXXXXX where the XXXXX will be replaced with your last name. If you have
problems uploading the video, please email me a copy of the video with the video attached using DropBox or
Google Drive prior to the project due date.
Answered Same Day May 30, 2021


Tanmoy answered on Jun 03 2021
143 Votes
Final Project
A personal finance budget model is a finance plan and is constructed to distribute future personal income towards expenses, savings and repayment of debt. It is a simple model which consists of rows like Income, Expenses, Net Income, Surplus/ Deficit and Savings. All these cells are formulated in excel. The model is segregated into twelve month period and the sum total of Income and Expenses gives us the Total Annual Income and Total Annual Expenses. The difference between the Total Annual Income and Total Annual Expenses helps us to determine the Annual Net Income. Now to get the optimal Annual Net Income we have done a sensitivity analysis which will help us to allocate our monthly budgets prudently.
Appropriate time to use the Personal Finance Budget Model
The appropriate time to use this personal finance budget model can be when an individual is earning some money and when he uses this money in payment of various expenses. Now, if he uses this model he can observe whether his expenses is more than his earnings resulting in a deficit or his income is more than his expenses resulting in a surplus. This surplus is known as “Savings”. This will help the individual to inculcate a habit of savings among the individuals. The individual can either minimize his expenses or earn more to inculcate the savings habit. Hence, this model will help him to get an idea of how to reduce the unnecessary expenses to increase his savings. The habit of savings will help the individual to utilize this fund during his difficult times.
Usage of the Model
The Personal Finance budget is a simple model which consists of income and expenses. The income and expenses are allocated for twelve month period from January to December....

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