Subject: Excel for Accounting Book: Using Excel and Access for Accounting 2013 Chapter: Test Chapters 5-7

Question: You work for JB Enterprises as a financial analyst. He wants to borrow $100,000 for expansion at 8% to be repaid in equal amounts over 20 years. JB wants to know the difference in the annual payment amounts if he pays at the beginning of the year or the end of the year. What is the difference in the payment amounts? Prepare a completed annuity table for each. Hand in the excel file.