Question: Calculate the following using the appropriate functions in Excel. For liquidity purposes, a client keeps $100,000 in a bank account. The bank quotes an annual

Calculate the following using the appropriate functions in Excel.

  1. For liquidity purposes, a client keeps $100,000 in a bank account. The bank quotes an annual interest rate of 7%. The banks service representative explains that this is the rate one would earn if one were to cash out rather than invest the interest payments. How much will your client have in his account at the end of one year, assuming no additions or withdrawals, using the following types of compounding?
    1. Annually
    2. Quarterly
    3. Monthly
    4. Daily
    5. Continuous (use EXP)

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