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1 7 . What is the amount of total intetest dollars earned on a $ 5 , 0 0 0 deposit earning 6 % for

17. What is the amount of total intetest dollars earned on a $5,000 deposit earning 6% for 20 years.
Assume no withdrawals ot deposits during 20 years and compunding to be done annually. Use FV formula with PV as negative then subtract 5000 from FV. Excel function
18. You have decided that you will sell your 200,000 house when it appreciates in value to $369286. If houses are appreciating at an avergae annual rate of 7% In your neighborhood, for approximately how long willl yoh be staying in your house.
Use opposite signs for PV and FV.
Excel function
19. You just won some money in the lottery and would like to save a portion of it so that you will have $50,000 to put on a down payment on a house in five years. Your bank pays a 8% rate of interest. How much money will you have to set aside from the lottery winnings if possible.
Assume FV to be negative to have a positive PV. Excel function

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