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. Question 4 Not yet answered % Marked out of 6.00 Bank Offer Introductory Interest Standard Rate (after introductory rate) Years 4 9.0% 6.0% Flag question Tapiwa wants to invest 8500. The bank employee used a spreedsheet to calculate the values for the offer below. However, this spreadsheet is incomplete. 1 Opening Balance Interest 1 Interest 2 Closing Balance 2 6.0% 9.0% 765.00 1 8,500.00 9,265.00 2 3 11,007.75 mto 00 4 5 7 719.91 12,718.35 6 9 7 8 10 11 9 12 13 Alternative Method 14 Introductory 15 Standard Rate 8,500.00 11,998.44 9.0% 6.0% 11,998.44 16,056.62 Required What is his investment worth at the end of Year 8? Choose... What is the formula needed in Cell E13 to calculate the closing balance after 4 years? Choose... What is the formula needed in Cell E14 to calculate the closing balance after 9 years? Choose... e after 4 years? Choose... Required What is his investment worth at the end of Year 8? Choose... Choose... What is the formula needed in Cell E13 to calculate 10,376.80 9,785.20 What is the formula needed in Cell E14 to calculate 15,147.76 16,056.62 14,290.34 13,481.45 e after 9 years? Choose... Required What is his investment worth at the end of Year 8? Choose... What is the formula needed in Cell E13 to calculate the closing balance after 4 years? Choose... Choose... What is the formula needed in Cell E14 to calculate the closing balance after 9 years? =B14*C14*4 =B14*C141A6 =B14*(1+C14)^ A6 =B14*(1+C14)*(1+C15) =B15*(1+C14)*(1+015) =B15*(1+C15)^(A11-A6) =B15*C154(A11-A6) Required What is his investment worth at the end of Year 8? Choose... What is the formula needed in Cell E13 to calculate the closing balance after 4 years? Choose... What is the formula needed in Cell E14 to calculate the closing balance after 9 years? Choose... Choose... =B14*C14*4 =B14*C141A6 =B14*(1+C14)^A6 =B14*(1+C14)*(1+C15) =B15*(1+C14)*(1+C15) =B15*(1+C15)^(A11-A6) =B15*C154(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. Question 4 Not yet answered % Marked out of 6.00 Bank Offer Introductory Interest Standard Rate (after introductory rate) Years 4 9.0% 6.0% Flag question Tapiwa wants to invest 8500. The bank employee used a spreedsheet to calculate the values for the offer below. However, this spreadsheet is incomplete. 1 Opening Balance Interest 1 Interest 2 Closing Balance 2 6.0% 9.0% 765.00 1 8,500.00 9,265.00 2 3 11,007.75 mto 00 4 5 7 719.91 12,718.35 6 9 7 8 10 11 9 12 13 Alternative Method 14 Introductory 15 Standard Rate 8,500.00 11,998.44 9.0% 6.0% 11,998.44 16,056.62 Required What is his investment worth at the end of Year 8? Choose... What is the formula needed in Cell E13 to calculate the closing balance after 4 years? Choose... What is the formula needed in Cell E14 to calculate the closing balance after 9 years? Choose... e after 4 years? Choose... Required What is his investment worth at the end of Year 8? Choose... Choose... What is the formula needed in Cell E13 to calculate 10,376.80 9,785.20 What is the formula needed in Cell E14 to calculate 15,147.76 16,056.62 14,290.34 13,481.45 e after 9 years? Choose... Required What is his investment worth at the end of Year 8? Choose... What is the formula needed in Cell E13 to calculate the closing balance after 4 years? Choose... Choose... What is the formula needed in Cell E14 to calculate the closing balance after 9 years? =B14*C14*4 =B14*C141A6 =B14*(1+C14)^ A6 =B14*(1+C14)*(1+C15) =B15*(1+C14)*(1+015) =B15*(1+C15)^(A11-A6) =B15*C154(A11-A6) Required What is his investment worth at the end of Year 8? Choose... What is the formula needed in Cell E13 to calculate the closing balance after 4 years? Choose... What is the formula needed in Cell E14 to calculate the closing balance after 9 years? Choose... Choose... =B14*C14*4 =B14*C141A6 =B14*(1+C14)^A6 =B14*(1+C14)*(1+C15) =B15*(1+C14)*(1+C15) =B15*(1+C15)^(A11-A6) =B15*C154(A11-A6) )
