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Project Description:
You are the manager of the small business loan department for the U.S. government. You need to calculate the payments for the loans that are currently on the books. To do this, you will need to create a query and add the Pmt function to calculate the loan payments for each loan. You will also summarize each loan by loan type (M=Mortgage, C=Car, and O=Other).

Instructions:
For the purpose of grading the project you are required to perform the following tasks:
Step    Instructions    Points Possible
2    In Design view, create a table named Customers. Add the first field named CustomerID with AutoNumber DataType. Add Company as the second field name, and FirstName as the third field name. Accept the default data types.    10
3    Add the following fields to the Customers table (in this order), accepting the default data types:

LastName
City
State
Zip

Verify that CustomerID is the primary field.    10
4    Save the table and switch to Datasheet view. Add the following records to the table:
Company                     FirstName     LastName      City                 State      Zip
Jones and Co                Robert           Paterson        Greensboro     NC           27401
Elements, Inc.              Merve            Kana               Paterson         NJ            07505
Godshall Meats, LLC    Francisco       De La Cruz     Beverly Hills   CA           90210    10
5    Import the spreadsheet in the downloaded Excel file exploring_a03_h2_Loans into a new table. Choose LoanID as the primary key and accept all other defaults in the Import Wizard.    10
6    Open the Loans table in Design view. Change the InterestRate field format to
Percent. Change the field size for the CustomerID field to Long Integer. Click Yes when prompted that some data may be lost. Save and close the table.    10
7    Create a relationship between the CustomerID fields in the Customers and Loans tables. Enforce referential integrity. Save and close the Relationships window.    10
8    Create a query using the two tables that will calculate the payment amount for each loan. Add the following fields: Company, LoanID, Amount, InterestRate, Term, and LoanClass, in that order (Hint: the values for the Term field are in years). Sort the query by LoanID in ascending order. Save the query as Loan Payments.    5
9    Use the Expression Builder to add a calculated field named Payment in the first blank column to calculate the loan payment for each loan. Use the Pmt function. Assume the loans have monthly payments (12 payments per year). Ensure the payment displays as a positive number. Run the query.    5
10    Switch to Design view and change the display of the calculated field to Currency format. Run the query again to verify your changes.    5
11    In Datasheet view, add a Totals row. Use it to calculate the sum of the amount column, the average interest rate, and the average term. Save and close the query.    5
12    Create a copy of Loan Payments. Save the new query as Loan Payments Summary. Open the Loan Payments Summary query in Design view and rearrange the columns as follows:
LoanClass, LoanID, Amount, and InterestRate. Delete columns Company, Term, and
Payment.    5
13    Group the Loan Payments Summary query by the LoanClass field. Display the number of loans in the LoanID column, the sum in the Amount column, and the average in the InterestRate column. Run the query.    5
14    Switch to Design view and display the Property Sheet. For the LoanID field, change the caption to Loans. For the Amount field, change the caption to Total Amount and change the format to Currency. For the InterestRate field, change the caption to Avg Interest Rate and change the format to Percent. Run the query. Save and close the query.    10
15    Close all database objects. Close the database and then exit Access. Submit the database as directed.    0
Total Points    100