Move to the Savings Plan worksheet. As an employee of ArtSoft, you are considering investing in a company savings plan. In the plan, the employee contributes $200 each month for the next 5 years. The annual interest rate earned is 5%. Assume that payments are made at the end of the period.

In cell B5 of the Savings Plan worksheet, enter the monthly interest rate for the plan.

In cell B6, enter the total monthly contribution for the plan.

In cell B8, use the Excel FV function to determine the future value of this investment. Your function should refer to cells B5 and B6.