An investment company offers a bond linked to the FT100 index. On redemption the bond pays the face value plus the largest of A: the face value times the change in the index. Or B: 5% yearly interest compounded monthly. Thus, for example, 100 invested when the index was 110 and redeemed a year later when the index was 125 will pay A: 100 + 100*(125 ? 110)/110 = 113.636 and not B: 100*(1 + 0.05/12) ? 12 = 105.116. Implement a VBA function Bond(Deposit, Years, FT0, FT1).

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A B D E F 64 Exercise 6 65 66 Deposit 100 100 100 Years FTO 110 FT1 113.636 <-- =Bond(A67,B67,C67,D67) 105.116 <-- =Bond(A68,B68,C68,D68) 1,261.394 <-- =Bond(A69,B69,C69,D69) 1,261.394 <-- =Bond(A70,B70,C70,D70) 1,261.395 <-- =Bond(A71,B71,C71,D71) 67 1 125 68 1 110 100 69 12 110 125 100 100 70 12 110 1387.53 71 12 110 1387.535