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(a) In this problem, we will now make deposits at the beginning of the year. The only columns we will need to interchange are the
(a) In this problem, we will now make deposits at the beginning of the year. The only columns we will need to interchange are the interest and deposit columns. Time and ending balance formula's stay the same. Do not change your beginning balance of $0.00. In cell C5, change interest to deposit, and in cell D5 change deposit to interest. In cell C6 type in your deposit of $200.00. Now go to D6 and type in your interest formula using an interest rate of 5.00% (Note: remember NOT to use A6 for time and to do remember to include both the beginning balance and deposit when figuring your interest). You should have gotten $ 10.00 for your interest. Now go to E6, and type in your ending balance formula. What is the answer in cell E6? $ 210 (b)Carry over your ending balance for year 1 over to the beginning balance for years 2. Now fill down your formula's for each of the columns. The. ending balance in the account after 15 years should be $4531.50 What is your total amount in the account after 30 years? $ 13328.93 X W
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