question 3

or as a word document. But you must hand in your 1:Cuscel spreadsheet. You must label what you are doing and show all excel spread sheets that you used. The inputs into the excel functions must be clearly labeled with no abbreviations and contain the correct units using the $ and % symbols. You must answer every question with a sentence. if you do not have excel on your computer, you should down load Office 365 from the Student Portal page. This will contain excel. 1. You invest $10,000 into an account that pays 2.25% annual interest compounded monthly. How much money will you have in eight years? How much interest would you have earned? 2. How much money do you have to invest now into an account that pays 3.03% annual interest compounded monthly in order to have $30,000 in 15 years? How much interest would you have earned? 3. Steve has maxed out his credit card and owes $24,000. The annual interest on his credit card is 17.5%. 1. The minimum payment for some credit cards is 2% of what you owe. What is Steve's minimum payment? 2. Suppose Steve continues to pay the amount found in part a, how long until he has paid off her credit card dept? Assume he doesn't charge anything else. 3. What is the total amount he spent to cover the S24.000 debt? 4. Suppose Steve decides to pay $650 per month, how long until he pays off the credit card? 5. How much does she save by paying $650 a month? 6. Suppose Steve is getting married in 22 months, what should he pay every month to clear his credit card debt by the time he is married