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PLEASE HELP Instructions: Using Financial Formulas in Excel, answer the following problems in a single Excel worksheet. Round to the nearest dollar. You must turn
PLEASE HELP
Instructions: Using Financial Formulas in Excel, answer the following problems in a single Excel worksheet. Round to the nearest dollar. You must turn in an Excel document. 1. What is the balance in an account at the end of 5 years if $1,500 is deposited today and the account earns 3.5% interest compounded annually? 2. How much interest is earned in an account by the end of 10 years if $50,000 is deposited at the beginning of year 1 and interest is 5% per year, compounded semi-annually? 3. If you wish to accumulate $60,000 in 4 years, how much must you deposit today in an account that pays annual interest rate of 8%, with quarterly compounding of interest? 4. If you deposit $5,000 at the end of each year for 10 years in an account that pays an annual interest rate of 2%, what will your account be worth at the end of 5 years Step by Step Solution
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