Question: please put in an excel table like the example shown. Using the Excel spreadsheet, Practice Problems * [7b1] After consulting with your financial advisor, you

please put in an excel table like the example shown.
please put in an excel table like the example shown. Using the
Excel spreadsheet, Practice Problems * [7b1] After consulting with your financial advisor,
you figured that you need to invest $20,000 per year to accumulate

Using the Excel spreadsheet, Practice Problems * [7b1] After consulting with your financial advisor, you figured that you need to invest $20,000 per year to accumulate enough money for your retirement. Assuming a rate of return of 8% and depositing $20,000 at the end of every year in your retirement account, how much will you have after 40 years? - Answer: $5,181,130.374 - Solution: [2nd][CE/C] 40[N] 8[I/Y] 0 [PV] 20,000[+/][PMT] [CPT][FV] [7b2] After consulting with your financial advisor, you figured that you need to invest $500 per month to accumulate enough money for your children's college education in the 529 college savings account. Assuming a rate of return of 8% and depositing $500 at the end of every month in your retirement account for 10 years, how much will you have in the account? - Answer: $91,473.0176 - Solution: [2nd][CE/C] 120[N] 0.667[I/Y] 0 [PV] 500[+1][PMT] [CPT][FV] 120 for [N]=1012 months 0.667 for [I/Y]=8/12 [7b3] You wish to buy a $20,000car in four years after graduation of your college. You figured that you could save $1,000 per quarter to accumulate enough money to buy that car. If a rate of return of 5% and depositing $1,000 at the end of every quarter in your investment account for four years, do you think you will have enough money to buy that car? - Answer: No because you will only have $17,591.1638 in the investment account. - Solution: [2nd][CE/C] 16[N] 1.25[I/Y] 0 [PV] 1,000[+/][PMT] [CPT][FV] 16 for [N]=44 quarters 1.25 for [I/Y]=5/4

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