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please provide excel functions. thank you! Today, Jeff has $350,000 in his savings and Patrick has $875,000. Patrick will not make any more deposits over
please provide excel functions. thank you!
Today, Jeff has $350,000 in his savings and Patrick has $875,000. Patrick will not make any more deposits over the next 10 years, but he will earn 7% per year on his current savings. Jeff plans to deposit $8,000 per year into his savings for the next 10 years. He also wants to seek out a higher return for his savings so that he will have the same amount of money as Patrick will 10 years from now. What rate of return will Jeff have to earn over the next 10 years in order to catch up with Patrick? 16.05% 2209% 19.22% 17.44% Question 4 2 pts What is the FV of a 25 year annuity due that pays you $7,000 per year if the interest rate is 11% ? Round your answer to the nearest dollar. What is the present value of a 14 year annuity due that pays you $12,000 per year if the interest rate is 9% ? Round you answer to the nearest dollar Step by Step Solution
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