Problem # $4$: For the following problem, you are to create a Macro using the Record Macro functionality.

Assuming that your computer allows Macros, you may have to turn this feature on by using

"Customize Ribbon" to add the "Developer" tab. Customize Ribbon might be found under

"Options" from a File or Home screen in Excel.

NOTE FOR MAC USERS

Create an Excel sheet with the following headings:

You are to start with an initial deposit of $$24,000.$ Your Total will earn interest each quarter at a

rate that will appear in cell C$3.$ At the end of each year, you will put in an additional deposit of:

$$1000$ at the end of the first year

$$2000$ at the end of the second

$...$ and so on until you deposit

$$20,000$ at the end of year $20$

The "Total after $20$ years" in cell G$3$ will be set equal to the cell at the bottom of the table that

contains the Total immediately after you deposited that last $$20,000.$

The quarterly compounding interest rate that you will earn will be a random number chosen by

Excel in cell C$3.$ In C$3$ you are to enter: $=1\mathrm{.}34\%+3\%**$ rand$()$ The function "rand$()"$ selects a

random number from a uniform distribution between $0$ and $1.$

If you press "recalculate" a few times $($F$9$ on PCs$),$ you should see different possible outcomes

appear in cell G$3$ depending on the quarterly interest rate that the investment realized over those

$20$ years.

You are to create a macro to record $500$ random outcomes from cell G$3,$ and save them in a

column of cells beginning at G$8$ and going down. Instructions for creating the Macro are here.

When you have the $500$ outcomes in column $G,$ have excel compute the maximum of those $500$

numbers, the minimum, and the median.

$($a$)$ What is the maximum value that you achieved?

$($b$)$ What is the minimum value that you achieved?

$($c$)$ What is the median value that you achieved?