A bank employee has been approached by a client, Tapiwa, who wants to know how much they would earn if they take advantage of the latest bank offers. Bank Offer Introductory Interest Standard Rate (after introductory rate) Tapiwa wants to invest 11,200. % 7.0% Years 5 5.0% onwards The bank employee used a spreedsheet to calculate the values for the offer below. However, this spreadsheet is incomplete. A D E 1 Opening Balance 2 Interest 1 Interest 2 7.0% 5.0% Closing Balance 3 1 11,200.00 784.00 11,984.00 45190020723 2 3 6 4 5 14,680.92 8 6 16,494.01 7 8 11 9 13 Alternative Method 14 Introductory 15 Standard Rate 11,200.00 15,708.58 7.0% 5.0% 15,708.58 19,093.88 16 Required F What is his investment worth at the end of Year 7? 17,318.71 + What is the formula needed in Cell E14 to calculate the closing balance after 5 years? Choose... What is the formula needed in Cell E15 to calculate the closing balance after 9 years? =B14*(1+C14)^A7 Part of your answer requires attention: Choose... =B15*(1+C15)^(A11-A7) =B14*(1+C14)*(1+C15) =B14*C14*4 =B15*C15^(A11-A6) =B15*(1+C14)*(1+C15) =B14*C14^A6 Inputs 2, 3 (drop down boxes) - Please put an ans 14*146 =B14*(1+C14)^A5 =B15*(1+C15)^(A11-A6) A bank employee has been approached by a client, Tapiwa, who wants to know how much they would earn if they take advantage of the latest bank offers. Bank Offer Introductory Interest Standard Rate (after introductory rate) % 7.0% Years 5 5.0% onwards Tapiwa wants to invest 11,200. The bank employee used a spreedsheet to calculate the values for the offer below. However, this spreadsheet is incomplete. A B E 1 Opening Balance 2 3 1 11,200.00 Interest 1 Interest 2 7.0% 5.0% 784.00 Closing Balance 11,984.00 4 2 5 3 6 4 7 5 14,680.92 8 6 16,494.01 9 7 10 8 11 9 12 13 Alternative Method 14 Introductory 15 Standard Rate 16 Required 11,200.00 7.0% 15,708.58 5.0% 15,708.58 19,093.88 F What is his investment worth at the end of Year 7? 17,318.71 + What is the formula needed in Cell E14 to calculate the closing balance after 5 years? Choose... What is the formula needed in Cell E15 to calculate the closing balance after 9 years? Choose... Choose... =B14*(1+C14)^A7 =B15*(1+C15)^(A11-A7) =B14*(1+C14)*(1+C15) Part of your answer requires attention: =B14*C14*4 Inputs 2, 3 (drop down boxes) - Please put an ans =815*C15A11-A6) =B15*(1+C14)*(1+C15) =B14*C14^A6 =B14*(1+C14)^A5 =B15*(1+C15)^(A11-A6)