Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone show me the correct excel formula to answer these questions? 9. You want to quit your job and go back to school for

Can someone show me the correct excel formula to answer these questions?

image text in transcribed

9. You want to quit your job and go back to school for a law degree 4 years from now, and you plan to save $3,500 per year, beginning immediately. You will make 4 deposits in an account that pays 5.7% interest. Under these assumptions, how much will you have 4 years from today? Rate Periods Payment Future value Present value Note: Since your deposits will be "beginning immediately," this is an annuity due and must be treated as such. There are several more annuities due in the problems below. Answer 10. You want to quit your job 3 years from now and sail around the world. You plan to save $7,000 per year, beginning today. You will make 3 deposits in an account that pays 5.2% interest. Under these assumptions, how much will you have 3 years from today? Rate Periods Payment Future value Present value Answer 11. What is the PV of an ordinary annuity with 10 payments of $2,700 if the appropriate interest rate is 5.5%? Rate Periods Payment Future value Present value

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance An Integrated Approach

Authors: Bernard J. Winger

4th Edition

0198520972, 9780132696302

More Books

Students also viewed these Finance questions