are we solving for rate, present value, future value, or number of payments

Home Insert Draw Page Layout Formulas Data Review View fx v ? v lo v le Text Insert Function AutoSum Recently Financial Logical Used Date & Time Lookup & Math & Reference Trig More Functions B12 fx =FV(B10,89,B8) B D E F 3. Jake estimates that he can afford to invest $650/month for the next 8 years and believes he can consistently earn 6% interest. If he is 27 correct, how much money will he have earned 8 years from now? 29 30 What are you solving for? RATE 31 32 Inputs: 33 Pv $650.00 34 Nper 8 35 Rate 6.00% 36 Pmt $650.00 37 FVC) 38 39 4. Joe has decided to invest $82/month for the next 20 years into his 401(k) account. Based on his research, he believes he can consistently earn 8% interest per year. If he is corrett, how much money will he have 40 earned 20 years from now? 41 42 What are you solving for? 43 44 Inputs: 45 Pv $82.00 46 Nper 20 47 Rate 8.00% 48 Pmt 49 FVC) 50 51 5. After 20 years, Joe decides to increase his monthly 401(k) contribution to $200/month, and he does this for the next 20 years. Based on his research, he believes he can consistently earn 8% interest per year. If he is correct, how much money will he have earned by the end of this 40 year period? 52 HINT: Students, you will have PY in this sendo ulatia B12 x fx =FV(B10,89,88) B C D m F 51 52 5. After 20 years, Joe decides to increase his monthly 401(k) contribution to $200/month, and he does this for the next 20 years. Based on his research, he believes he can consistently earn 8% interest per year. If he is correct, how much money will he have earned by the end of this 40 year period? HINT: Students, you will have a PV in this second calculation, in addition 53 to the monthly payments. 54 55 What are you solving for? 56 57 Inputs: 58 PV 59 Nper 60 Rate 61 Pmt 62 FV) 63 64 65 6. Suppose that Joe dedded instead testick with his $82 monthly Investment for the full 40 years. He is still earning 8% interest. How much money will he have earned by the end of 40 years under this 66 scenario? 67 68 69 What are you solving for? 70 71 Inputs: 72 Pv 73 Nper 74 Rate 75 Pet 76 77 78 FVO Functions TVM Practice More TVM Problems Ready +