A bank offers different interest rates on deposit accounts. The rate is based on the size of
Question:
A bank offers different interest rates on deposit accounts. The rate is based on the size of the periodical deposit ( CF i ) and the following table. Write a future value function BankFV(CF, r). The function should be useable as a worksheet function. CF could be either a row range or a column range.
For Periodical Deposits The Interest Rate Is
< = 100.00.........................................................r
< = 500.00.........................................................r + 0.5%
< = 1,000.00......................................................r + 1.1%
< = 5,000.00......................................................r + 1.7%
> 5,000.00.........................................................r + 2.1%
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: