Question: Using excel showing formulas and not hardcoding: Time Value of Money You need $4,000,000 in order to fund your future retirement. Solve this problem using

Using excel showing formulas and not hardcoding: Time Value of Money

  1. You need $4,000,000 in order to fund your future retirement. Solve this problem using Excel and time value of money present value AND future value concepts. (Note that this is a very unstructured problem
  2. You want to buy a house in 15 years that costs $300,000 now. Inflation is 3%. How much do you need to save each year to be able to buy the house if you can earn 6% (compounded annually) on your savings?
  3. The Ravens have 61,000 spectators per game and anticipate annual growth in attendance of 5%. If their stadium holds 71,000 people, how long will it take to fill up the stadium?
  4. Suppose you want to borrow $20,000 for a new car. You can borrow at 8% per year, compounded monthly (8/12 = .66667% per month). If you take a five-year loan, what is your monthly payment?

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