Fill in the variables using excel, solving for the one highlighted in yellow using the formula $($which is given to you by the variable name$).$

Note: Remember how many periods happen in a year$-$

Example $1$ If you have an annual interest rate of $8\%,$ but you are making quarterly payments, solve for the interest per quarter by solving $\mathrm{.}08/4$ and using that for your RATE variable

Example $2$ If you have payments every $6$ months, for twenty years, you have two payments per year, so $2*20=40=$NPER

Question $1$

You invest $\backslash (\backslash$$ $100\backslash )$ every two weeks into a savings account. If the account earns $\backslash (3\backslash \%\backslash )$ annually, compounded bi$-$weekly, how much will you have at the end of $20$ years?

Hint: Use the FV formula.

PV

PMT

RATE

NPER

FV

Question $2$

Hint: Use the RATE formula Hint: Use the PMT function. Remember to divide your annual interest rate to make it monthly!