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NOTE: PLEASE USE EXCEL FOR EXCEL FORMULA 8. If you deposit $5,000 per year for the next 20 years into an account paying 10%, how

NOTE: PLEASE USE EXCEL FOR EXCEL FORMULA

8. If you deposit $5,000 per year for the next 20 years into an account paying 10%, how much money will you have in the account in after the 20 years? Suppose you decide to invest this $5,000 per year in the same account earning 10% for 40 years rather than 20, how much will you have in the account after 40 years?

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