Question: Project Description IMPORTANT NOTE - THIS IS NOT A MINDTAP BASED PROJECT. YOU WILL BE SUBMITTING YOUR PROJECT DOCUMENTS IN THE ASSESSMENTS>ASSIGNMENTS AREA OF D2L


Project Description IMPORTANT NOTE - THIS IS NOT A MINDTAP BASED PROJECT. YOU WILL BE SUBMITTING YOUR PROJECT DOCUMENTS IN THE ASSESSMENTS>ASSIGNMENTS AREA OF D2L BRIGHTSPACE AND DESCRIBED BELOW. Jacob and Sophia's dream for their recently born daughter, Emily, is that one day she will attend their alma mater, Purdue University. For the next 18 years, they plan to make monthly payment deposits to a 529 College Savings Plan at a local bank. The account pays 5.25% annual interest, compounded monthly. Create a worksheet for Jacob and Sophia that uses a financial function to show the future value (FV) of their investment and a formula to determine the percentage of the college's tuition saved. Jacob and Sophia have supplied the following information: Out of state annual tuition (amount they are trying to save) = $52,000 per year Annual Rate = 5.25% Number of years for which they will make monthly payments = 18 Monthly payment = $425 Percentage of tuition saved = FV / Tuition for four years Jacob and Sophia are not sure how much they will actually be able to save each month. Use the concepts and techniques presented in module 4 to create a data table that show the future value and percentage of tuition saved for monthly payments from $175 to $775, in $50 increments. Unlock the rate, monthly payment and years. Protect the workbook so that the user can select only unlocked cells. Future Value of a 529 College Saving Plan Emily's 529 College Savings Plan Monthly Savings Future Value % of Tuition Saved Annual Return Monthly Payment Years Future Value % of Tuition Saved 5.25% $425.00 18 175 225 275 325 375 425 475 525 575 625 675 725 775
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