Question: Could someone explain to me the formula I would use in problem 1 & 2? I am taking a finance course now that requires the

Could someone explain to me the formula I would use in problem 1 & 2? I am taking a finance course now that requires the usuage of excel.

1 Future Value with Simple Interest What is the future value of 10,500 on deposit for 8 years at 3.2% simple interest? Present Value= $10,500 Term= 8 Interest Rate= 3% Future Value 2 Compound Interest: Interest Earned on Interest How much interest is earned in the third year on a 4,000 deposit that earns 5.2% interest compounded annually? 4,000 5.2% Present Value Interest Rate- Interest Earned in the First Year= Interest Earned in the Second Year- Interest Earned in the Third Year

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