Suppose you are saving for your childs college fund. You are going to contribute the same amount
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Suppose you are saving for your child’s college fund. You are going to contribute the same amount of money to the fund at the end of each year. Your goal is to end up with $100,000. For annual investment returns ranging from 4 percent to 15 percent, and number of years investing varying from 5 to 15 years, determine your required annual contribution. Suppose you are able to save $10,000 per year. Use conditional formatting to highlight for each annual return rate the minimum number of years needed to accumulate $100,000.
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Related Book For
Microsoft Excel Data Analysis And Business Modeling
ISBN: 9780137613663
7th Edition
Authors: Wayne Winston
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