Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You are required to solve the following questions using Excel. Your answer for each question should be written in the following format: Line 1: Excel
You are required to solve the following questions using Excel. Your answer for each question should be written in the following format: Line 1: Excel syntax (e.g. =PMT(x%,x,xxx,0) to produce a positive result for Line 2 Line 2: Numerical answer in 2 decimal places (e.g. \$xxxx.xx) (a) If a company's sales revenue in 2023 was $2 million and it grows at 13% per year, what will be sales revenue 5 years later? (3 marks) (b) Suppose an investment will pay you $13,000 four years from now. The interest rate on this 4-year investment is 4.5%, how much is the investment worth today? (3 marks) (c) Daisy inherited $200,000 and invested it at 6.25% per year. How much could Daisy withdraw at the end of each month over the next 15 years? (3 marks) (d) Iris borrowed $80,000 with interest rate 4.8% and to be repaid in five equal annual payments at the end of each year. What is principal repaid amount in the third repayment
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