Question
How can I model this on excel? With the cash flow for each year You have $10,000 in savings. Assume you earn 2.5% compounded quarterly
How can I model this on excel? With the cash flow for each year
You have $10,000 in savings. Assume you earn 2.5% compounded quarterly on it for three years, then you earn 5% annually for the next two years, then you withdraw $1,000 to buy a new phone, then you earn 7% per year on the remaining balance for 10 more years.
a. How much savings will you have at the end of the entire time?
b. How much would you have had if you had not purchased the phone?
By hand, I've found for the first part the FV=21,405 and for the second part FV=23,372.
How can I display the FV for each year though?
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