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Please help me with the correct excel function formula I understand how to do it manually, but I don't understand excel Only excel formula, please
Please help me with thecorrect excel function formula
I understand how to do it manually, but I don't understand excel
Only excel formula, please. For example = Rate(D8-D9 ,,D6,D7)
- 11 - A'A" Bru- B- &. A. Agrment Number Conditional Format a Cell Cells Editing Formatting . Table . Sales- Fort Styles G You want to be a millionaire when you retire in 40 years. How much do you have to save each month if you can earn an annual return of 10.5 percent? How much do you have to save each month if you wait 10 years before you begin your deposits? 20 years? Amount needed 1,000,000 Years to save 40 Months per year 12 APR 10.5% Years to wait before beginning Years to wait before beginning 10 Years to wait before beginning 20 14 15 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. 16 17 Monthly deposit if you begin today 18 19 Monthly deposit if you wait 10 years 20 21 Monthly deposit if you wait 20 years 22 23 24 25 Sheeti READY 100% Attempt(s) HintCalculating interest expense . Excel 7 0 - 5 X ILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Colibri - 11 . A'A 9% Padbe BIU . B. &- A . Alignment Number Conditional Format at Cell Cells Editing Formatting Table . Styles Clipboard G Fort Style X V L A B You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of .5 percent per year, compounded monthly for the first six months, increasing thereafter to 18.5 percent compounded monthly. Assuming you transfer the $7,000 balance from your existing credit card and make no subsequent payments, how much interest will you owe at the end of the first year? First APR 0.5% Periods for first APR 6 Second APR 18.5% Periods for second APR 6 Balance transferred S 7,000 Months per year G Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. Balance in six months Balance in one year Accrued interest Sheet1 ADY 1004 Hint OStep by Step Solution
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