Answered step by step
Verified Expert Solution
Question
1 Approved Answer
When calculating the FV of a savings account that has a lump sum deposited in year 0 and additional payments made over a period of
When calculating the FV of a savings account that has a lump sum deposited in year 0 and additional payments made over a period of out years, would it be correct to calculate the year 0 as a negative PV value and the out year payments as a negative PMT value, using the FV excel function? (stuck on whether or not the values should be positive or negative. Since it is a payment, I assume negative?)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started