Introduction: Write a paragraph which includes the amount of money to be saved and why (include...

 

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Introduction: Write a paragraph which includes the amount of money to be saved and why (include the source where you researched the amount), the time period you have for reaching this monetary goal, the specific investment option you are using with the APY or average rate of return and the website where you found the information. Financial Goal: o) Type the formula you entered into Excel to calculate the payment you will have to make each year to meet your goal with the time ond APY for the investment you chose. Use one of the formulas: FV, PV, PMT, NPER or RATE with a "1" at the end to denote making payments at the beginning of the year. (Remember the APY is an annual rate and we are using angual compounding.) b) Type the formula you entered into Excel to calculate the new time period required if you make smaller payments. (The smaller payments can be orbitrarily chosen.) Choose from the formulas FV, PV, PMT, NPER or RATE with a "1" at the end to denote making payments at the beginning of the year. Remember that payments must be denoted as a negative and that we are using annual compounding. c) Write a paragraph about which payment amount and number of years you chose and why. Also include how you will specifically save for the payments. d) Did you earn the same amount of interest each year? Why or why not? Logic: a) Fill in the blanks to complete this conditional statement: f I save_S o year, then I will have $ years. b) Write the converse of that statement. ) Are the conditional and converse equivalent? (In other words, f one is true, is the other outomatically true Introduction: Write a paragraph which includes the amount of money to be saved and why (include the source where you researched the amount), the time period you have for reaching this monetary goal, the specific investment option you are using with the APY or average rate of return and the website where you found the information. Financial Goal: o) Type the formula you entered into Excel to calculate the payment you will have to make each year to meet your goal with the time ond APY for the investment you chose. Use one of the formulas: FV, PV, PMT, NPER or RATE with a "1" at the end to denote making payments at the beginning of the year. (Remember the APY is an annual rate and we are using angual compounding.) b) Type the formula you entered into Excel to calculate the new time period required if you make smaller payments. (The smaller payments can be orbitrarily chosen.) Choose from the formulas FV, PV, PMT, NPER or RATE with a "1" at the end to denote making payments at the beginning of the year. Remember that payments must be denoted as a negative and that we are using annual compounding. c) Write a paragraph about which payment amount and number of years you chose and why. Also include how you will specifically save for the payments. d) Did you earn the same amount of interest each year? Why or why not? Logic: a) Fill in the blanks to complete this conditional statement: f I save_S o year, then I will have $ years. b) Write the converse of that statement. ) Are the conditional and converse equivalent? (In other words, f one is true, is the other outomatically true

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