Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please show how to use/find FV and then after use goal seeking for B24!! :) mainly confused on how to use the FV without monthly
Please show how to use/find FV and then after use goal seeking for B24!! :) mainly confused on how to use the FV without monthly deposit.. ive already asked this question and got no help and have been trying to figure this out for hours:(
21 Save for Retirement 22 Your goal is to save $1,000,000 for retiremenet. You do so in a savings account with a fixed annual interest rate, compounded monthly. 23 Annual Rate of Return 10% 24 Monthly deposit This value gets determined by Goal Seek. 25 Years to retirement 30 26 Payments per year 12 27 Total value after 30 years Use goal seek to determine the monthy deposit over a 30 year period at 10% APR to save a million dollars for retirement Use the Future Value function (FV) in B27 28 29Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started