Question
The following information relates to the number cases to be solved by using financial functions: If you deposited sum of 200 JOD at the beginning
The following information relates to the number cases to be solved by using financial functions:
- If you deposited sum of 200 JOD at the beginning of each month for 20 Years at an annual interest rate of 12%. What are the present and future values of these deposits?
- If the annual interest rate is 6%, what is the monthly payment to be invested at the beginning of each month for a period of 20 years to save the amount of 100000 JOD?
- Salem invested 120000 JOD for 10 years and the total value of this investment have reached to 195467 JOD, what is the annual interest rate for this investment.
Required:
Create a new worksheet Q2and formulate it to be suitable then use the necessary financial functions to resolve the previous examples.
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
978-0073526706, 9780073526706
