Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help finding the formula for cell C5 The spreadsheet below represents money put away every year into a mutual find which gets 9.5% per

Need help finding the formula for cell C5

image text in transcribed
The spreadsheet below represents money put away every year into a mutual find which gets 9.5% per year. Write a formula for cell C5. A B C D E 1 Rate of Return: 9.5% N Year New Balance Deposit End Balance 1 $ $ 5,000.00 $ 5,475.00 2 S 5,475.00 $ 5,150.00 $ 11,634.38 3 $ 11,634.38 $ 5,304.50 S 18,548.07 4 $ 18,548.07 $ 5,463.64 $ 26,292.81 5 $ 26,292.81 $ 5,627.54 $ 34,952.79 6 $ 34,952.79 $ 5,796.37 $ 44,620.33 7 $ 44,620.33 $ 5,970.26 $ 55,396.70 8 $ 55,396.70 $ 6,149.37 67,392.95 9 $ 67,392.95 $ 6,333.85 S 80,730.84 10 $ 80,730.84 $ 6,523.87 $ 95,543.91 11 $ 95,543.91 $ 6,719.58 $ 111,978.52 12 $ 111,978.52 $ 6,921.17 $ 130,195.16 BIUAAT X X 12pt Paragraph

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus I With Integrated Precalculus

Authors: Laura Taalman

1st Edition

1464153027, 9781464153020

More Books

Students also viewed these Mathematics questions