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 3 years if the following assumptions were true?
- You make payments of $25 a month to your savings account every month for 3 years.
- Your savings account has a fixed APR of 1.3%. Note: A fixed APR is an annual interest rate that does not change during the 3-year period.
- You will not take any money out of your savings account during this 3-year period.
- You have no beginning balance.
(Round to the nearest cent)
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