Question: Please solve in simplest way and show work/ formulas [ multi part question] show excel method to solve if necessary. Mark has won a contest

Please solve in simplest way and show work/ formulas [ multi part question] show excel method to solve if necessary.

Please solve in simplest way and show work/ formulas [ multi part

Mark has won a contest in which he will receive $10,000 at the end of each of the next 10 years and then $20,000 a year for 30 years after that. With an 8% discount rate, what is the present value of Mark's prize? Solution: $171,391.44 Treasure National Bank is offering a savings account that pays 6.5% interest, compounded monthly. What is the effective annual rate on this account? Solution: 6.6972% Pamela places $4 a day in a savings account that earns 3%, compounded daily. How much will she have in the account after four years? Solution: $6,204.58

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