7. Using Formulas to Inform Decisions

In this activity, you created a spreadsheet to track research and make decisions about cell phones and service plans -- or another product with recurring payments.

You also used formulas to calculate total costs and to sort your spreadsheet based on your priorities.

Spreadsheet formulas like the ones you created in this activity have many applications.

You could design one to calculate the monthly and yearly costs of a cable or internet provider, media streaming service, used car, house, laptop, or tablet.

You could keep track of how much you spend each month cooling or heating your home.

Businesses use spreadsheets to balance prices and expenses.

For example, a local ice cream shop might use spreadsheets to keep track of inventory, to know how much to charge based on the cost of ingredients, or to collect feedback from customers.

Lots of purchases have “hidden fees,” too.

Mobile devices, for example, often have activation or access fees.

You can add these to your spreadsheet and include those in your formulas as well to be sure that you have a complete picture of the costs involved with your purchase.

Explore more formulas in spreadsheets, and see how they can help you make better financial decisions!