Problem 3 A bank has the following annual certificate of deposit rate schedule: Initial Deposit < 1000, rate = 2% APR, compounded monthly 1000 =2000,

Problem 3

A bank has the following annual certificate of deposit rate schedule:

Initial Deposit < 1000, rate = 2% APR, compounded monthly

1000<= Initial Deposit < 2000, rate =4% APR, compounded MONTHLY

Initial Deposit >=2000, rate = 5% APR, compounded monthly

Assume the rate is fixed for the life of the CD at the time of the initial deposit.Write a VBA user defined function, called CDFV,to calculate thefuture value of the CD as a function of the initial deposit and number of years held. Calculate the future value of the following CDs.

**** PLEASE COPY AND PASTE YOUR VBA CODE ON THE BOTTOM*************

Initial Depost Years Future Value Points A 500 1 #N/A B 1600 2 #N/A C 2200 3 #N/A PLEASE COPY AND PASTE YOUR VBA CODE BELOW