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HOW DO I SOLVE THIS USING EXCEL!! Gordon Rosel went to his bank to find how long it will take for $1,000 to grow to
HOW DO I SOLVE THIS USING EXCEL!!
Gordon Rosel went to his bank to find how long it will take for $1,000 to grow to $1,250 at 10.0% simple interest. Round time in years to the nearest tenth. \begin{tabular}{|r|r|} \hline Invested amount & $1,000 \\ \hline Accumulated value & $1,250 \\ \hline Interest rate & 10.0% \\ \hline \end{tabular} Required: Using the above information please answer the following: Note: Use cells A4 to B6 from the given information to complete this question. 1. How much will Gordon earn in interest each year (simple interest)? 2. How many years will it take for $1,000 to grow to $1,250 at 10.0% simple interest? Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. Nothing in this area will be graded, but it will be submitted with your assignmentStep by Step Solution
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