Question: can you help me inputing the exact inputs into excel, I Know the hardcode formula but not how to exactly input in excel. The problem
can you help me inputing the exact inputs into excel, I Know the hardcode formula but not how to exactly input in excel. The problem in excel is modified from the book. Thank you
AB H L P6-3M (also calculate this problem using 5% compounded annually in addition to 8%) You are graduating from college at the end of this semester and after reading The Business life box in this chapter, you have decided to invest $5,000 at the end of each year into a Roth IRA for the next 45 years. If you earn 8% compounded annually on your investment, how much will you have when your retire in 45 years? How much will you have if you wait 10 years before beginning to save and only make 35 payments into your retirement account? Also, calculate the same figures using a 5% Interest rate compounded annually Hint: see example problem on pages 160-163 PV 1 nper pmt FV 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 PV nper pmt FV
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
