Question: Solve in excel and show formulas 1- You deposit $500 today in a savings account that pays 6% interest, compounded annually. How much will your

Solve in excel and show formulas
1- You deposit $500 today in a savings account that pays 6% interest, compounded annually. How much will your account be worth at the end of 10 years? 2- Janice has $5,000 invested in a bank that pays 5.8% annually. How long will it take her funds to triple? 3- What is the PV of an annuity due with 5 payments of $7,300 at an interest rate of 5.5%? 4- What is the present value of a perpetuity that pays $1,700 per year if the appropriate interest rate is 5% ? 5- Your father is about to retire, and he wants to buy an annuity that will provide him with $70,000 of income a year for 25 years, with the first payment coming immediately. The going rate on such annuities is 5.15%. How much would it cost him to buy the annuity today? 6- Suppose you borrowed $29,000 at a rate of 9.0% and must repay it in 4 equal installments at the end of each of the next 4 years. How large would your payments be? 7- You agree to make 24 deposits of $500 at the beginning of each month into a bank account. At the end of the 24th month, you will have $13,550 in your account. If the bank compounds interest monthly, what nominal annual interest rate will you be earning? 8- What is the present value of a 4-year ordinary annuity of $2,250 per year plus an additional $550 at the end of Year 4 if the interest rate is 5% ? 9- How much would $100, growing at 5% per year, be worth after 75 years? 10- You want to quit your job and go back to school for a law degree 4 years from now, and you plan to save $7,400 per year, beginning immediately. You will make 4 deposits in an account that pays 5.7% interest. Under these assumptions, how much will you have 4 years from today
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