Question: How would calucted this in excel? Please explain :) 3 Compound Interest: Interest Earned on Interest 7.0% How much interest will be earned in the

How would calucted this in excel? Please explain :)

3 Compound Interest: Interest Earned on Interest 7.0% How much interest will be earned in the next year on an investment paying was just credited to the account for interest? compounded annually if 110 110 Interest earned first year Interest earned second year 4 Present Value Looking Back in Time Assume the total expense for your current year in college equals 22,000. Approximately how much would your parents have needed to invest 15 years ago in an account paying 5.1% compounded annually to cover this amount? Terme 15 FV- $22,000.00 Interest rate 5.1% PV

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

1. Financial ratios can be used to answer which of the following questions? Are the companys managers effectively generating profits on the firms assets? How a firm is financed? Are the firms...

excle please intereson interest Suhy Kuhas made the following deposit at the First National bank of Kent. How much will she have at the end of her savings Number of periods Initial investment...

For next 4 questions. Each year, $7,500 is invested at 4 percent annual compound interest. Question 4 0 pts What is the value of the investment portfolio after 20 years? Question 5 0 pts What is the...

1. Suppose you are a 22 year old college graduate who just started working. While your current savings (or starting balance) is $0, you setup an automatic deposit of $60 a month (about $2 a day or...

1.Suppose you are a 22 year old college graduate who just started working. While your current savings (or starting balance) is $0, you setup an automatic deposit of $60 a month (about $2 a day or...

Extensions Help Last edit was made on February 24 by Carol Fan 100% View only * Simon deposits $500 every half year into an investment account that earns 7% per annum compounded semi- B C E F G Simon...

I need help with question 4 and 5 please , they both use the following table. 4. DETAILS BRECMBC9 11.1.024.0/1 Submissions Used MY NOTES ASK YOUR TE Using Table 11-1, compute the amount of compound...

Question 3 A survey was carried out to find out the highest qualification held by men and women, aged 16 - 75, in the UK. Below are the results. Male Female Total No qualifications 55 48 103 Level 1...

List answers please stions 5.1 Explain the phrase "a dollar today is 5.2 Explain the importance of a time line. 5.3 5.4 Explain the difference between future value and present value. 5.5 Explain the...

Problem Set 3 - Compound Interest a)You deposit 2000 TL in a bank account paying 8% interest per year. Determine how much interest your investment will earn in 5 years in this account if (i) the...

How can organizations motivate employees to promote safety and health in the workplace?

What is an enterprise system supposed to accomplish?

In a lump sum contract ALL savings are accrued to the owner Group of answer choices True False

Projects A and B are mutually exclusive and both have an initial cost of $88,000. Project A has annual cash flows for three years of $18,300, $34,500, and $52,300, respectively. Project B has annual...

3. Design a checklist for carrying out a safety inspection in the workplace. Use your checklist to actually carry out an inspection of a designated area either at work or in your college. Write a...

explain the terms used for companies which operate on an international basis such as international, multinational and global enterprise

5. Imagine that you are a consultant employed to select a job evaluation scheme for an organisation that employs 500 employees in a large range of clerical jobs. Write a report to the human resource...