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There are 12 questions on the next sheet of this workbook. For each question, the correct solution figure is given to you in a cell
There are 12 questions on the next sheet of this workbook. For each question, the correct solution figure is given to you in a cell highlighted in gray. Your task is to create a formula using an Excel function in the answer cell highlighted in yellow that results in the same, correct, figure. You must use an Excel function to get the answer. Functions may include pv, fv, pmt, nov, nper, rate, effect, nominal, average, stdev, etc. Question 5 A pleasant gentleman has advised you via email that you are entitled to a $1 million inheritance. Putting specifics aside, you start to ponder the retirement nest-egg this could help you accumulate over the next 30 years. As a diligent finance $3,300,387 student you do some research and find that the money can be invested into an account paying a fixed 4% rate, 4 points compounded quarterly. How much retirement money would be in the account after 30 years? (round to nearest dollar)
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