# Invested # Amount (PV) 1 15000 2 20000 3 30000 4 50000 Tab 4 Part 1: FV = PV (1+i)n Interest No. of Use Excel Rate (i Periods (n) Function Use Formula 6% 12 8% 10 12% 20 4% 12 # # Future Value 1 20000 2 14000 3 25000 4 40000 Tab 4 Part 2: FV = PV (1+i)n; PV = FV /(1+i)^n Interest No. of Use Excel Rate Periods Function Use Formula 7% 10 8% 12 12% 20 10% 8 Tab 4 Part 3: Nichole deposits $20,000 in her savings account earning 4% interest quarterly and leaves it there for 7 years. What does she have at the end of 7 years? Show the formula you can use to get the answer: Now, use the excel function to calculate your number: Tor wants to have $12,000 by Summer 2022 to take me on a super nice vacation. How much money does he need to put away at the end of EACH MONTH to be able to have it grow to $12,000 by June 2022. He can earn 4% on his money (hint: this is an annual rate). He will start putting money away at the end of November 2020 (18 months)