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Please provide formulas with answers. A B D F G 1 Calculating the value of an IRA 2 3 Do You Want To Be A
Please provide formulas with answers.
A B D F G 1 Calculating the value of an IRA 2 3 Do You Want To Be A Millionaire???? 4 5 Amount Saved Each Month 350 6 Number of Years Saved 25 7 Projected Interest Rate** 7.00% 8 9 If you start saving $350 per month at age 40, at age 65, 10 What you will have saved: 11 12 Be sure to use the Future Value (FV) function 13 Be sure the payment field is negative and you pay at the beginning of the month 14 15 Here is how to become a millionaire at age 65 16 17 18 Start saving at age 25 19 20 In Cell E18, calculate what you will have saved for 40 years 21 if you deposit $300 per month at 8% 22 That is the difference between starting an IRA at age 25 or age 40!!!!!! 23 24 LEARN SOMETHING: START SAVING AS EARLY AS POSSIBLE 25 26 What happens if you save $400 instead of $350? Calculate the value of the IRA in cell G18 27 Calculate the difference between the two in cell H18 28 29 **The projected interest rate of 7.5% over 40 years is indeed possible 30 especially if the funds are invested in a conserative mutual fund 31 32 If you do not have an IRA, right now is the time to open one. 33 You can open an IRA with as little as $10 34 You can open an IRA at any commercial bankStep by Step Solution
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