Question: Question on Time Value Money - Please solve using Excel functions - A charity organisation is soliciting donations for a new mid day meal scheme.

Question on Time Value Money - Please solve using Excel functions - A charity organisation is soliciting donations for a new mid day meal scheme. Under this 300 children will be fed every day for 250 days a year for all time to come. To be part of the donor team for this scheme a person has to deposit Rs 500000 per year for the next 20 years. If the applicable interest rate is 8% what is the cost of the meal? Correct Ans is Rs 5.24, but not sure of the excel method.

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