Question: done on excel Excel Project #5 1. Graph the growth of money over time in an account yielding 4% interest, compounded monthly. Start with $100
Excel Project #5 1. Graph the growth of money over time in an account yielding 4% interest, compounded monthly. Start with $100 and see how it grows over 30 years. Remember, F=P*(1+ant for compound interest. 2. Compare the growth of a $1000 investment at different interest rates, compounded monthly. i) Make a chart showing the future value after 15 and 30 years at interest rates of 2%, 3%, 4%, 5%, 6%, 7%, and 8%. ii) Determine how much you would have to invest at 2% to obtain the same future value as $1000 invested at 8% (for t = 30 years). Amount needed to be invested is
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