Task:

Use excel and the appropriate formulas to complete the following problems. Identify the knowns and solve for the unknown.

accordingly. Save your file as lastname.firstname.hw$43$ and upload it here.

Problems to solve $($note: some ask multiple questions; three points each$)$:

How much will $$1,500$ invested at $3$ percent be worth in ten years? What will it be worth if the interest rate is $4$ percent?

If you put $$15,000$ in the bank today to save for college and leave it for $20$ years, what quarterly rate of interest will you have

to earn in order to be able to pay a $$60,000$ tuition bill when you take out the money?

If you put $$825$ in the bank today and leave it for $13$ years, will you have more money if the bank pays you $4\mathrm{.}25$ percent per

year or $3\mathrm{.}65$ percent per year with interest compounded daily? Solve the problem for each bank and provide a conclusion.

How much will $$10,000$ invested today at $4$ percent interest be worth in $5$ years if it is compounded annually? Monthly?

If we receive $$5,000$ eight years from now, how much is that equivalent to today if we believe that we can earn $4$ percent on

other opportunities?

If you have $$7,500$ today and could earn $4\mathrm{.}5$ percent interest rate per year, how many years would it take before you would

accumulate $$15,000?$ Assume annual compounding.

How much must you put aside annually in a $5\mathrm{.}5$ percent investment to have $$85,00010$ years from now. Assume all payments

are made at the end of each period.

Use the editor to format your answer