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hi! I need help using the PROVIDED excel sheet to calculate my answer. please help me figure out which calculator to use and where to
hi! I need help using the PROVIDED excel sheet to calculate my answer. please help me figure out which calculator to use and where to put the given info in the excel sheet-
You want to be able to withdraw $40,000 each year for 30 years. Your account earns 9% interest. a) How much do you need in your account at the beginning? ta b) How much total money will you pull out of the account? TA c) How much of that money is interest? $ Annunity Payout Mortgage Payments Present Value Interest Rate Term (years) Compounding periods $ 320,243.29 8% 25 1 Present Value Interest Rate Term (years) Compounding periods $187,500.00 3.75% 23.54975292 12 Payment $30,000.00 Payment $1,000.00 Annuity Investment Payments Savings Accounts $ Future Value Interest Rate Number of Years $ 300,000.00 10% 30 Present Value Payment Interest Rate Compounding periods Term (years) 500.00 $50 2.20% 12 Payments $132.71 5 Payment $3,726.24 Compount Interest Calculation Simple Interest Calculation 500.00 $ $ 50.00 Present Value (Principal) $3,000.00 Interest Rate 6% Number of Years 20 2% Present Value Payments Interest Rate Term (years) Compounding periods Future Value 5 12 Future Value $6,600.00 $3,726.24 i have to use the excel sheet that is given so please do not send me a new excel..
the original problem is provided in photo-
the answers to this problem is
A)= 410.946.17
B) = 1,200,000.00
C)= 789,053.84
please help me figure out which calculators to use and where to put the #'s
ty!!
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