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Please help with *Excel formula* Assume the compounding period suggested by problem. Assume that payments are end of period payments. 4a. You need $455,000 to
Please help with *Excel formula*
4a. You need $455,000 to start a business 17 years from now. Your uncle has given you a gift of $145,000 today. Assuming you can earn 8% per year with annual compounding, will you have enough money to meet your goal? How much are you over/short? 4b. Your uncle has changed his mind and has revoked his gift. If you were to make annual contributions and could still earn an APR of 8% with annual compounding, how much will you need to contribute at the end of each year in order to meet your goal "Assume the compounding period suggested by problem. Assume that payments are end of period payments."
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