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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
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) Years 9.0%) 4 6.0% Tapiwa wants to invest 8500. The bank employee used a spreedsheet to calculate the values for the offer below. However, this spreadsheet is incomplete. A D E B Opening Balance 1 Closing Balance Interest 1 9.0% 765.00 Interest 2 6.0% 2 3 1 8,500.00 9,265.00 4 2 5 3 6 4 11,007.75 7 5 719.91 12,718.35 6 8 9 7 10 81 11 91 12 13 Alternative Method 14 Introductory 15 Standard Rate 9.0% 8,500.00 11,998.44 11,998.44 16,056.62 6.0% Required What is his investment worth at the end of Year 8? 15,147.76 What is the formula needed in Cell E14 to calculate the closing balance after 4 years? Choose... What is the formula needed in Cell E15 to calculate the closing balance after 9 years? Choose
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