You are considering a savings plan which calls for a deposit of $15,000 at the end of each of the next 5 years. If the plan offers an interest rate of 10%, how much will you accumulate at the end of year 5? Do this calculation by completing the following spreadsheet. This spreadsheet does the calculation twice?once using the FV function and once using a simple table which shows the accumulation at the beginning of each year.

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1 Annual payment 2 Interest rate 3 Number of years 4 Total value 15,000 10% 5 $91,576.50 <- =FV(B2,B3,-B1,,0) Accumulation Payment at end of year Annual Year at beginning of interest year 15,000 0.00 15,000 1,500.00 8 15,000 31,500 3 10 4 11 12