Question: !!IMPORTANT: Please solve it in excel. If you do not solve it in Excel, unfortunately I cannot give +1 for your answer. Suppose that you

 !!IMPORTANT: Please solve it in excel. If you do not solve

it in Excel, unfortunately I cannot give +1 for your answer. Suppose

 !!IMPORTANT: Please solve it in excel. If you do not solve it in Excel, unfortunately I cannot give +1 for your answer.

Suppose that you want to open a saving account in a private bank and deposit "some" equal amounts PER MONTH FOR A YEAR. Please state 1-initial amount, 2-deposits per month and 3-number of interest periods and 4- interest rate per month with respect to following rules: 1. Initial amount 201109 (In dollar currency.) 2- Deposits per month is the last 1109 (In dollar currency.) 3- APR is 5 How much will the account grow if it earns at APR per year compounded yearly, quarterly (20 pts), monthly, weekly? IMPORTANT: Please solve it in excel. If you do not solve it in Excel, unfortunately I cannot give +1

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 Finance Questions!