Suppose the money is automatically deposited in a mutual fund. Further suppose that the mutual fund...
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Suppose the money is automatically deposited in a mutual fund. Further suppose that the mutual fund earns 3% each compounded monthly. Create an Excel spreadsheet which shows the total value of your investment up until age 65. The spreadsheet will have the following column titles and 20*12= 240 rows. Start with month one. Month Prior balance Interest Earned Month 1 End of month deposit What is the value of your investment when you turn 65? Copy and paste your first and last two rows below. End of month total 3% Prior balance Interest Earned End of month deposit $40.00 End of month total 5% $80.10 Suppose the money is automatically deposited in a mutual fund. Further suppose that the mutual fund earns 3% each compounded monthly. Create an Excel spreadsheet which shows the total value of your investment up until age 65. The spreadsheet will have the following column titles and 20*12= 240 rows. Start with month one. Month Prior balance Interest Earned Month 1 End of month deposit What is the value of your investment when you turn 65? Copy and paste your first and last two rows below. End of month total 3% Prior balance Interest Earned End of month deposit $40.00 End of month total 5% $80.10
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Answer rating: 100% (QA)
Month Prior Balance Interest Earned End of month deposit End of Month Total 1 000 000 4000 4000 2 4000 010 4000 8010 3 8010 020 4000 12030 4 12030 030 4000 16060 5 16060 040 4000 20100 6 20100 050 400... View the full answer
Related Book For
Fundamentals of Investing
ISBN: 978-0133075359
12th edition
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
Posted Date:
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