For 1. Use excel formula to calculate FV simple interest formula: =C15*(1+D15*E15) For 2. and 4. Use excel formula to calculate i, n, and FV compund interest. Compound interest formula: =C22*((1+D22)^E22) For 6. MUST use function key in FORMULAS tab then Financial group click on fv Create Excel formula to calculate answer to question 3,5, and 7. Format all money with dollar signs and 2 decimals. Select numbers and click $ on ribbon 1. Assignment: Determine the future value of a deposit of $1500, that is left in a bank for 5 years at 3.5% use simple interest End of Principle Rate time Future Value year 5 P r t FV or S 2. Assignment: Determine the future value of a deposit of $1500, that is left in a bank for 5 years at 3.5% use compounded annually End of Principle Rate time Future Value year 5 P n FV or S 3. What is the difference between Future Value simple interest and compound interest at the end of 5 years?