Sheet 3: A bank in Oxford pays 6% annual interest on savings accounts (not really!). If you deposit $3000 now and $1200 at the end of each year for 4 years, calculate the future value (FV) of your savings at the end of the 4th year using the 5-button solution. In the same spreadsheet, repeat the problem for your hometown bank that pays 1.5% interest per quarter on savings accounts. If you deposit $3000 now and $300 at the end of each quarter for 4 years, calculate the future value (FV) of your investment at the end of the 4th year using the 5-button solution. The two cells containing FV in each case should be highlighted in yellow.

Sheet 4: Repeat the problem in Sheet 3 for the bank in Oxford using the Compound Interest Factors (Appendix C). The three cells containing F/A, F/P, and the total F you have calculated using these factors should be highlighted in yellow.

answer the sheet3 and sheet 4

Thanks