Suppose that you want to open a saving account in a private bank and deposits some equal amounts per month for a year.

Intal amount: 2025 $

Deposits per month; 25$

APR(r); 5%

How much will the account grow if it earns

1. r% per year compounded yearly?
2. r% per year compounded quarterly?
3. r% per year compounded monthly?
4. r% per year compounded weekly?

I HAVE TO DO THS QUESTION ON EXCEL SO IF YOU CAN SEND ME THE FORMULAS ALSO, I WLL BE HAPPY.

Hint;

NPERY values Yonly Daily Cantina 6-anthily G. 6m. COMPOUNDING PERIODS QIIATarly Monthly Weekly C. m. c. w 52 0. V. G. 28 965 825 9125 13 Payment period or period for nominal rato 32000000 16000 8000300 3000000 620000 88000 20 Note: There are come rounding errors which are acceptable for planning purposes. Figure 5.14. Table with NPERY Values for Finding Effective Rates