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Show the Process on Excel Sheet. A. You want to save your money for a down-payment on a home in ten years. You currently have
Show the Process on Excel Sheet.
A. You want to save your money for a down-payment on a home in ten years. You currently have $5,000 invested today at a 5% rate compounded annually. You plan to deposit $1000 at the end of each year for ten years. What is the maximum amount you will have at the end of ten years?
B. You find out you will inherit $100,000 in six years. If the current interest rate is 5% compounded quarterly, what is the present value of your inheritance? If it is not annual compounding.
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