Question: A bank employee has been approached by a client, Tapiwa, who wants to know how much they would earn if they take advantage of the

 A bank employee has been approached by a client, Tapiwa, who
wants to know how much they would earn if they take advantage

A bank employee has been approached by a client, Tapiwa, who wants to know how much they would earn if they take advantage of the latest bank offers. % Bank Offer Introductory Interest Standard Rate (after introductory rate) Years 7.5% 4 5.5% onwards Tapiwa wants to invest 11,320 The bank employee used a spreedsheet to calculate the values for the offer below. However, this spreadsheet is incomplete. A B Opening Balance E Closing Balance 1 2 3 Interest 1 7.5% 849.00 Interest 2 5.5% N 11,320.00 12,169.00 NA 4 2 5 3 6 4 14,062.80 5 831.46 15,948.97 | 7 8 9 6 10 8 11 9 12 13 Alternative Method 14 Introductory 15 Standard Rate 11,320.00 15,117.51 7.5% 5.5% 15,117.51 19,757.98 Required What is his investment worth at the end of Year 8? Choose... What is the formula needed in Cell E14 to calculate the closing balance after 4 years? Choose... What is the formula needed in Cell E15 to calculate the closing balance after 9 years? Choose

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