TEMPLATE

Summer 2019

a. Find the FV of the present value amount given invested to earn the given rate for the years shown. Answer this question by using a math formula and also by using the Excel function wizard.

Inputs:

PV =

800

I/YR =

8%

N =

5

Formula:

FV = PV(1+I)^N =

Wizard (FV):

Note: When you use the wizard and fill in the menu items, the result is the formula you see on the formula line if you click on cell E12. Put the pointer on E12 and then click the function wizard (fx) to see the completed menu. Also, it is generally easiest to fill in the wizard menus by clicking on one of the menu slots to activate the cursor and then clicking on the cell where the item is given. Then, hit the tab key to move down to the next menu slot to continue filling out the dialog box.