You have saved $15,200 and would like to buy a car in three years. If the car you like costs $20,000, what rate of interest will you have to earn on your savings to afford the car?

# of Periods

Present Value

Future Value

Interest Rate

An annuity pays $600 each quarter for eight years. At the end of the eight years, the annuity holder receives a lump sum payment of $10,000. How much would you pay for this annuity today at a discount rate of 4.5% APR compounded quarterly?

Interest Rate

# of Periods

Payment

Future Value

Present Value

Please answer in Excel format