Question: 1.Design a spreadsheet to compute the dollar amount in each of the next 10 years of an initial investment returning a constant annual interest rate.

1.Design a spreadsheet to compute the dollar amount in each of the next 10 years of an initial investment returning a constant annual interest rate. Interest is reinvested each year so that the amount returning interest grows.

What is the dollar amount 6 years from now of $400 invested at 8% annual interest?

2.Suppose revenues for a small business are $60,000 this year and will grow 9% per year. Design a spreadsheet to compute revenue in each of the next 10 years.

In how many years from now will revenues first exceed $108,000?

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