Use the appropriate function in Excel to answer the following question. How much money would you have
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Question:
Use the appropriate function in Excel to answer the following question.
How much money would you have in a savings account at the end of 5 years if the following assumptions were true?
- You make payments of $35 a month to your savings account every month for 5 years.
- Your savings account has a fixed APR of 1.1%. Note: A fixed APR is an annual interest rate that does not change during the 5-year period.
- You will not take any money out of your savings account during this 5-year period.
- You have no beginning balance.(Round to the nearest cent)
Related Book For
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
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