Please write it in excel format

SIGN IN TO OFFICE It looks like your stored credentials are out of date. Please sign in as oa253@njit.edu so we can verify your subscripti D115 X V U LU Example 4.3: Interest on Interest I N m + in 6 Suh-Pyng Ku has made the following deposit at the First National bank of Kent. How much will she have at the end of her savings period? Number of periods: Initial investment: 500 00 0 0 Interest rate per Year: 7.0% At the end of the investment, she will have: 11 As shown in the textbook, the future value of $1 is found by the equation FV = $1 x (1 + r). In Excel, the carat ( ^ ) raises a number to a power. Of N m Initial investment: $500 Interest rate per Year: 10% in What is the value of the investment each year over the next 5 years? How much of the interest is simple interest and how much is compound interest? 16 We will answer this question with the following table: Amount with Beginning Simple Compound Total Ending Simple Year Amount Interest Interest Interest Amount Interest H NM + In 500.00 50.00 $ 50.00 $550.00 $550.00 550.00 50.00 5.00 55.00 605.00 600.00 605.00 50.00 10.50 60.50 665.50 650.00 N 665.50 50.00 16.55 66.55 732.05 700.00 m 732.05 50.00 23.21 73.21 805.26 750.00 Totals 250.00 $ 55.26 $ 305.26 27 Example 4.6: How Much for That Island