Application Time! 1) You will type the TVM inputs in the table provided from the Info...

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Application Time! 1) You will type the TVM inputs in the table provided from the "Info Sheet". 2) Mirror the inputs from the "Info Sheet" to the TVM cells provided. 3) Within the TVM cells, if needed, compound. 4) In the "ANSWER" cell show us your TVM calculation. Goal 1: Opened an account with $1500, with the hope to have a total of $2500 saved in an LG2-Q8 emergency fund within one year (no additional payments). What would the quarterly interest rate be needed to reach this goal? Goal 2: A credit card balance of $2000 with an 15% rate. The goal is to pay off the credit card LG2-Q9 by the end of the year. (future is a $0 balance) What would be the monthly payment to reach this goal? Goal 3: Student loan balance of $18,000 at 6.5% and making $425 monthly payments. (future LG2-Q10 is a $0 balance) How many months will it take to complete this goal? Goal 4: Save $15000 in an account with 15% for a down payment on a home in 6 years. (no LG2-Q11 additional payments) How much must be deposited today in the account to reach this goal? Goal 5: Open a Roth IRA at 5% for 20 years and contribute $1500 on a semi-annual basis. LG2-Q12 What is the potential balance of this account in 20 years? Compounding Number (select from dropdown) 4 Compounding Number (select from dropdown) 12 Compounding Number (select from dropdown) 12 Compounding Number (select from dropdown) 1 Compounding Number (select from dropdown) 2 Note: RATE= %/Compounding # 3.5% 5.74% RATE RATE RATE RATE RATE 5 Note: NPER Compounding # 4 NPER NPER NPER NPER NPER 0 0 PMT PMT PMT PMT PMT PV $6,000.00 PV $3,200.00 PV PV PV $ FV 7,126.12 FV $4,000.00 $ FV FV FV ANSWER 101,103,83 #N/A ANSWER #N/A ANSWER #N/A ANSWER #N/A ANSWER Application Time! 1) You will type the TVM inputs in the table provided from the "Info Sheet". 2) Mirror the inputs from the "Info Sheet" to the TVM cells provided. 3) Within the TVM cells, if needed, compound. 4) In the "ANSWER" cell show us your TVM calculation. Goal 1: Opened an account with $1500, with the hope to have a total of $2500 saved in an LG2-Q8 emergency fund within one year (no additional payments). What would the quarterly interest rate be needed to reach this goal? Goal 2: A credit card balance of $2000 with an 15% rate. The goal is to pay off the credit card LG2-Q9 by the end of the year. (future is a $0 balance) What would be the monthly payment to reach this goal? Goal 3: Student loan balance of $18,000 at 6.5% and making $425 monthly payments. (future LG2-Q10 is a $0 balance) How many months will it take to complete this goal? Goal 4: Save $15000 in an account with 15% for a down payment on a home in 6 years. (no LG2-Q11 additional payments) How much must be deposited today in the account to reach this goal? Goal 5: Open a Roth IRA at 5% for 20 years and contribute $1500 on a semi-annual basis. LG2-Q12 What is the potential balance of this account in 20 years? Compounding Number (select from dropdown) 4 Compounding Number (select from dropdown) 12 Compounding Number (select from dropdown) 12 Compounding Number (select from dropdown) 1 Compounding Number (select from dropdown) 2 Note: RATE= %/Compounding # 3.5% 5.74% RATE RATE RATE RATE RATE 5 Note: NPER Compounding # 4 NPER NPER NPER NPER NPER 0 0 PMT PMT PMT PMT PMT PV $6,000.00 PV $3,200.00 PV PV PV $ FV 7,126.12 FV $4,000.00 $ FV FV FV ANSWER 101,103,83 #N/A ANSWER #N/A ANSWER #N/A ANSWER #N/A ANSWER