Question: please answer using excel and explain 12) You are planning to send your daughter to college in 20 years. You estimate that you will need

please answer using excel and explain

12) You are planning to send your daughter to college in 20 years. You estimate that you will need $100,000 at that time to pay for tuition, room, and board. How much money would 7 you need to invest at the beginning of each year to achieve your goal assuming that you can earn a rate of return of 10% per year? Use Excel's =PMT(RATE,NPER,PV, [FV],[TYPE]) function. RATE is 10%, NPER is 20,PV is $0,FV is $100,000, and TYPE is 1 since payments are made at the beginning of the period

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!

please answer using excel and explain 7) You are planning to send your daughter to college in 20 years. You estimated that you will need $100,000 at that time to pay for tuition, room and board. How...

please answer using excel with formulas please! thank you! I've tried looking at many other examples and they were to hard to understand so i could figure it out for myself Chapter 4 Case -...

please solve using Excel and explain thank you 2) You are planning to send your daughter to college in 20 years. You estimate that you will need $100,000 at that time to pay for tuition, room, and...

Refer to the Retirement Planning case. Review the problem statement and influence chart that were generated for this case in conjunction with the corresponding exercise in Chapter 2. (If this has not...

Please answer using Excel in the exact format given below Mixed Use Project FIRE 305, Principles of Real Estate, Fall 2018 Tenant Assumptions Assumptions Tenant Remaining Lease Term Gross Leasable...

I got this big assignmnet for Quantitative methods for business i really need help Azimi, Hamida - azihy004 AH Share Comments Delete this page before submission Q-Constructions - building your future...

Exam 2 Statistical Analysis Part 1 of 1 - Question 1 of 20 5.0/ 100.0 Points 0.0/ 5.0 Points The stacked bar chart below shows the percentages of death due to cancer in four geographic regions of the...

Need help with this, it will be nice if somebody ciukd add the excel worksheets for problems 6 qnd 7. thank you Group 6 Group 8 Answer the following questions using Excel (2 pt) Beyond it being a...

Question 3 (20 marks) ? Lectures 5 and 6: Net present value and other investment criteria and Capital Budgeting You are evaluating a proposal to buy a new machine. The base price is $108,000, and...

Franklin Computer Software exhibited at an industry-wide trade show in Las Vegas last year, where it introduced its new software program. Franklin has discovered that Harrison Computer Software is...

Which of the following database programming techniques iscommonly used with object-oriented programming languages? a. Procedural SQL b. API c. Embedded SQL

5 To multiply a number by 0.03 divide the number by 100, then multiply by 3 OR multiply the number by 3, then divide by 100. Copy and complete the workings a 5000.03 500-100-5 and 53= b -700 x 0.03...

Bella is the supervisor of the sales department for a chain of salonsHer responsibilities include setting daily targets for employees and enabling to work toward achieving these targetsThese...

How can multimedia from the Internet be incorporated in a slide presentation? Give an example. (Objective 7)

Teamwork. Work with three or four of your classmates to develop a job description for the role of business communication student. Then, prepare a performance appraisal that discusses whether you meet...

You have a large amount of numeric data to include in your report. What type of visual aid would be most appropriate? Why? (Objective 3)