Use the Microsoft Excel PMT function to calculate questions 1 and 2 of the following. After showing the calculations for questions 1 and 2 below, write out the appropriate PMT function exactly as you would enter it in Microsoft Excel:

1. What is your monthly payment on a furniture loan for $2,000 at 10% APR for 4 years?

2. How much do you need to pay each month to pay off your $1,000 bill in 2 years if your interest rate is 15%?

Use the Microsoft Excel PV function to calculate question 3 and 4 of the following. After showing the calculations for questions 3 and 4 below, write out the appropriate PV function exactly as you would enter it in Microsoft Excel:

3. How much could I spend on a car if I could afford a $350 / month payment and the credit union would loan the amount to me at 7% interest for 4 years?

4. How much would I need to put into an investment account today to have $75,000 in my account in 10 years, assuming that my investment would earn 10% each year, compounding quarterly?

Use the Microsoft Excel FV function to calculate question 5 and 6 of the following. After showing the calculations for questions 5 and 6 below, write out the appropriate FV function exactly as you would enter it in Microsoft Excel:

5. How much will I have in my investment account in 20 years if I deposit $150 per month into an investment that earns 8%?

6. If I put $15,000 into an investment today, how much will it be worth in 30 years if it earns 10% interest compounded quarterly?

Use the Microsoft Excel NPER function to calculate question 7 and 8 of the following. After showing the calculations for questions 7 and 8 below, write out the appropriate NPER function exactly as you would enter it in Microsoft Excel:

7. How many years will it take my account to grow from $4,000 to $6,000 at 6% interest compounded annually? (round to the nearest year)

8. How many months will it take me to pay off my car loan if I purchase a car for $10,000 and finance it at 6%? I can make a monthly payment of $275.

Use the Microsoft Excel RATE function to calculate question 9 and 10 of the following. After showing the calculations for questions 9 and 10 below, write out the appropriate RATE function exactly as you would enter it in Microsoft Excel:

9. If I put $200 / month into an account for 5 years, and my ending balance is $15,000 what interest did I earn?

10. If my home increased in value from $180,000 to $250,000 over 15 years, what is the inflation rate?