Directions:

Solve the problems in Excel. Use formula$-$driven approach. If no formulas $$ no credit.

Upload your Excel file to the Assignment prompt. The file must be in Excel format, so I can check your formulas. If any other format $$ no credit.

Please do not upload links $$ upload the actual file. No file $$ no credit.

a$)$ Suppose you have $$2,000$ and plan to purchase a $3-$year certificate of deposit that pays $4\%$ interest, compounded annually. How much will you have when the CD matures?

b$)$ Now suppose that all the inputs above are the same, except interest rate is compounded monthly. Find the amount you will have when the CD matures under these new conditions.