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How do I solve part B using Excel? 6. You want to have $85,000 saved in your bank account 11 years from now. You want
How do I solve part B using Excel?
6. You want to have $85,000 saved in your bank account 11 years from now. You want to deposit the same amount every year, starting next year, and you can earn 5.5% per year on your savings. a. What would be your annual deposit? FV:$85,000t:11yearsr:0.055 =PMT(0.055,11,0,85000)=$5828.51 b. Say that you make the first deposit today and the last one in 10 years, what would be your annual depositStep by Step Solution
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