Question: can i get the excel formula solution for the problems below Question 5: Assume you deposit $2,000 every six months at 10 percent compounded semi-annually.
Question 5: Assume you deposit $2,000 every six months at 10 percent compounded semi-annually. How much will you have at the end of 10 years? Question 6: If you need $40,000 for your son's education in 10 years, how much must you deposit at the beginning of each year in the bank earning 6 percent in order to have the college money ready? Question 7: If you have $30,000 in a savings account earning 10 percent, how large an annuity can you draw out each year if you want nothing left at the end of 8 years? Question 8: You borrow $6,000 at a 10 percent annual rate to be repaid in 3 equal payments at the end of each of the next 3 years. How large is the total interest payment over the three years
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
