Question
Could someone help me with putting this in Excel? 1. Compare simple and compound interest (compounded annually) on a principal of $95,500 at an annual
Could someone help me with putting this in Excel?
1. Compare simple and compound interest (compounded annually) on a principal of
$95,500 at an annual rate of 4.25%, for a 10-year period. Fill in the following chart:
End ofSimple InterestTotal Accrued WithCompoundInterestTotal Accrued With
PeriodEarnedSimple InterestEarnedCompound Interest
Per Period
1 year_________________________________________________________
5 years_________________________________________________________
10 years_________________________________________________________
2.Suppose you deposit $250 at the end of every month for the duration of a 30-year
contract in an account paying 4.75% compounded monthly. How much money will
you have at the end of the contract?
n =____________________
i =____________________
Answer:______________________________________
3. If you make a one-time deposit of $22,500 at an annual rate of 3.50% compounded
daily, how much money will you receive in 20 years?
n =____________________
i =____________________
Answer:_______________________________________
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