4. Suppose the money is automatically deposited in a mutual fund. Further suppose that the mutual fund earns 3% each compounded monthly. Create an Excel spreadsheet which shows the total value of your investment up until age 65. The spreadsheet will have the following column titles and 20*12 = 240 rows. Start with month one.

Month

Prior balance

Interest Earned

End of month deposit

End of month total 3%

What is the value of your investment when you turn 65?

Copy and paste your first and last two rows below.

Month	Prior balance	Interest Earned	End of month deposit	End of month total 3%
1
2
239
240

5. Use the Excel function for Future Value to find the value of your investment at the end of 20 years of savings, assuming 3% interest. First position the cursor in a blank cell. Then click on the Formulas tab, then click on f_x Insert Function button, then scroll down and select the function FV (for Future Value). To fill in the Rate, Nper and Pmt see the explanation and example given when you click in the open box. Your answer should agree with your answer in #4. In the space below write down the inputs for the function FV, as well as your output.