Question: ( a ) In the first problem, we will make deposits at the end of the year. In cell A 7 , type in your

(a) In the first problem, we will make deposits at the end of the year. In cell A7, type in your formula to continue the time from 1 to 30 and fill down the formula. In B6, type in your beginning balance of $0. You should get "-" as your answer since this is the spreadsheet's way of saying "0". In cell C6, type in your interest formula using an interest rate of 3.00%(Note: remember NOT to locate A6 for time). You should have gotten "-" for your interest (Note: "-" means zero). In cell D6 type in your deposit of $1000. Now go to E6, and type in your ending balance formula.
What is the answer in cell E6? $
(b) Carry your ending balance for year 1 over to the beginning balance for year 2. Now fill down your formulas for each of the columns. the ending balance in the account after 15 years should be $18598.91.
What is your total amount in the account after 30 years?
What is the total amount deposited into the account during the 30 years?
What is the total amount of interest earned on the account during the 30 years?
(c) Suppose at the end of 30 years you withdraw all the money and the government requires you to pay 28% of your earned interest in taxes.
What would your ending balance then be at the end of 30 years?

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