Q.15 Please answer using the formula sheet

15. Many companies keep a "slush fund available to cover unexpected expenses. Suppose that a $15,000 fund earning 6.4% compounded semi-annually continues to receive month-end contributions of $1,000 for the next five years, and that a withdrawal of $12,000 is made two-and-a- half years from today along with a second withdrawal of $23,000 four years from today. What is the maturity value of the fund? Format for Spreadsheet Functions on Excel Present worth: Contents of = PV(%,n,A,F) for constant A series; single F value = NPV (%.second_cell:last_cell) + first_cell for varying cash flow series Future worth: = FV(%,1,A,P) for constant A series; single P value Annual worth: = PMT(%,n,P,F) for single amounts with no A series = PMT(i%, n,NPV) to find AW from NPV; embed NPV function Number of periods (years): = NPER(%,A,P,F) for constant A series: single P and F (Note: The PV. FV, and PMT functions change the sense of the sign. Place a minus in front of the function to retain the same sign.) Rate of return; = RATE(n,A,P,F) for constant A series; single P and F = IRR(first_cell:last_cell) for varying cash flow series Interest rate: = EFFECT(r%,m) for nominal r, compounded m times per period = NOMINAL(i%,m) for effective annual i, compounded m times per year Depreciation: = SLN(P,S,11) straight line depreciation for each period = DDB(P,5,n,1,d) double declining balance depreciation for period t at rated (optional) = DB(P,S,n,1) declining balance, rate determined by the function = VBD(P,0,1,MAX(0,t-1.5), MACRS depreciation for year t at rated for MIN(n,t-0.5),d) DDB or DB method Logical IF function: = IF(logical_test,value_if_true,value_if_false) for logical two-branch operations