How to Become a Millionaire Without Winning the Lottery!!
Presented by:
Brenda Dwyer
Fonville Middle School
Houston ISD
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Objectives      Student Directions      Student Questions       Extensions

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Student Directions

Step 1

Open a spreadsheet application, either Microsoft Excel or ClarisWorks Spreadsheet. In the following cells, enter the the information as follows:

1. Click on cell A1, type the word Principal, press <enter>
2. Click on cell B1, type the word Rate, press <enter>
3. Click on cell C1, type the word Time, press <enter>
4. Click on cell D1, type the word Interest, press <enter>
5. Click on cell E1, type the word Total, press <enter>
6. Click on cell F1, type 8% Annually, press <enter>
7. Click on cell A2, type 1000, press <enter>
8. Click on cell B2, type 0.08, press <enter>
9. Click on cell C2, type 1, press <enter>
10. Click on cell D2, type =A2*B2*C2, press <enter>
11. Click on cell E2, type =(A2*B2*C2)+A2, press <enter>
12. Click on cell A3, type =E2, press <enter>

We will use the computer to format the cells for currency and percents. We are using formulas so that we can change information and see "What if" scenarios. You should get numbers instead of formulas on your spreadsheet.

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Step 2

You will probably need to make your columns wider. To do this, put your mouse between the letters of the column headings. When the cursor changes to crosshairs, click and slide to the right. We will want to format columns A, D, and E for money. To do this, click on the letter A in column A, then click on the $ on the toolbar. Repeat for columns D and E. To format Column B for for percent, click on B in column B and click on the percent (%) sign on the toolbar. Your spreadsheet should now look like this:

If for any reason, your screen does not look like this repeat the steps above until it does.

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Step 3

Now for the fun part, we are going to copy and paste the information in each column. You will repeat these same instructions for each column. I would suggest filling down to Row 100.

1. Click on Cell A3, go to the Edit Menu and select Copy.

2. Click on cell A4, go to the Edit menu and select Paste.

3. Click on Cell A4 and drag down until you have Cell A100 highlighted.

4. Go to Edit and Select Fill Down

Repeat these same instructions for Column B, C,D, and E. Number amounts in your spreadsheet will change as you do each column. When you are done, Scroll through your spreadsheet and see how the total amounts change as time goes by.

1. To save your work, go to File, select Save, change the location to A: 3 1/2” floppy, enter the file name as Millionaire1XX, replacing XX with your initials, then click Save.
2. Go to File, select Save As, type Millionaire2XX, replacing XX with your initials, then click Save. Notice that the name of file changes at the top of the screen.
3. Go to File, select Save As, type Millionaire3XX, replacing XX with your initials, then click Save. Notice that the name of file changes at the top of the screen.
4. Go to File, select Save As, type Millionaire4XX, replacing XX with your initials, then click Save. Notice that the name of file changes at the top of the screen.

Now we are going to make some changes to see what variable will make us richer quicker. First, we are going to change the interest rate to 10%.

1. Go to the File menu, select Open, click on Millionaire2XX, click open.
2. Click on cell B2, type 10, press enter. (We do not enter the decimal form because we have formatted the cell for percent.)
3. Click on cell B2, go to edit and select copy.
4. Click on cell B3, go to edit and select paste.
5. Highlight Cells B3 through B100, go to edit and select Fill Down.
6. Go to File, select Save. 

Now we are going to change the principle to $2000 , while keeping the interest rate at 8%.

1. Go to the File menu and Open Millionaire3XX:
2. Click on cell A2, type 2000, press enter. (We do not enter the $ sign because we have formatted the cell for currency.)
3. We do not have to do any copying and pasting because we entered formulas. All of the amounts in columns D and E change automatically.
4. To save this file, go to file, select Save.
   

Step 6  Millionaire4: Initial Principal = $2,400 and Interest = 15%

Next we are going to change both the initial principal and interest. If you invest wisely, you should be able to get an effective rate of 15%. We are going to have our initial investment be $2,400.

1. Go to the File menu and Open Millionaire4XX.
2. Click on cell A2, type 2400, press enter. (We do not enter the $ sign because we have formatted the cell for currency.)
3. Click on cell B2, type 15, and press enter.
4. Click on cell B2, go to edit and select copy.
5. Click on cell B3, go to edit and select paste.
6. Highlight Cells B3 through B100, go to edit and select Fill Down.
7. Go to File, and select Save to save these changes.

You should now have 4 different spreadsheets on your floppy disk: Milionaire1XX, Millionaire2XX, Millionaire3XX and Millionaire4XX.

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Objectives    Student Directions    Student Questions      Extensions

Brenda Dwyer  dwyer@tenet.edu

Fonville Middle School      725 E. Little York     Houston, Texas 77076
Houston Independent School District
Sunday, February 17, 2002