Question: Directions: Solve the problems in Excel. Use formula - driven approach. If no formulas no credit. Upload your Excel file to the Assignment prompt. The

Directions:
Solve the problems in Excel. Use formula-driven approach. If no formulas no credit.
Upload your Excel file to the Assignment prompt. The file must be in Excel format, so I can check your formulas. If any other format no credit.
Please do not upload links upload the actual file. No file no credit.
a) Suppose you have $2,000 and plan to purchase a 3-year certificate of deposit that pays 4% interest, compounded annually. How much will you have when the CD matures?
b) Now suppose that all the inputs above are the same, except interest rate is compounded monthly. Find the amount you will have when the CD matures under these new conditions.
Directions: Solve the problems in Excel. Use formula-driven approach. If no

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