You are a financial analyst and one of your clients has just advised you that she intends to

retire 25 years from today. After a thorough analysis of your clients needs, you determine

that a sum of $1,050,000 will be required to meet her financial needs. Your client advises

that she will make quarterly contributions starting 3 months from today and continue those

payments until retirement. You determine that you will be able to invest her contributions at

an effective annual rate of return of 8%. You then advise that her quarterly payment will

need to be

a. $14,851.14

b. $3,362.88

c.

$3,487.73

d. $38,888.89

e. $14,362.72

The answer is C but how can I enter this in excel?

Given a rate of 10% per year, compounded quarterly, what is the equivalent rate per year,

compounded annually?

a. 12.18%

b. 12%

c. 6.09%

d.

10.38 %

e. 6%

D is the answer but please show me how to enter this into Excel