Question: Use the appropriate function in Excel to answer the following question. How much money would you have in a savings account at the end of

Use the appropriate function in Excel to answer the following question.

How much money would you have in a savings account at the end of 5 years if the following assumptions were true?

  • You make payments of $35 a month to your savings account every month for 5 years.
  • Your savings account has a fixed APR of 1.3%. Note: A fixed APR is an annual interest rate that does not change during the 5-year period.
  • You will not take any money out of your savings account during this 5-year period.
  • You have no beginning balance.

____________

(Round to the nearest cent)

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