Question: Please use excel , need help with functions and setting up cash flows in Excel because I am only used to using a financial calculator,

Please use excel, need help with functions and setting up cash flowsPlease use excel, need help with functions and setting up cash flows in Excel because I am only used to using a financial calculator, thanks!

A mutual fund has been advertising that, had you deposited $250 per month in the fund for the last 10 years, you would now have accumulated $85,000. Assuming that these deposits were made at the beginning of each month for a period of 120 months, calculate the effective annual return fund investors got. 12. Hint: Set up the following spreadsheet and then use Goal Seek. 1 Monthly payment 2 Number of months 250 120 4 Effective monthly return? 5 Accumulation

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!