You place $100 into a fund at the end of each month for 3 years. The...

 

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You place $100 into a fund at the end of each month for 3 years. The annual nominal interest rate is 2% in the first year, 2.5% in the second year, and 3% in the third year. (a) Using a spreadsheet programme (Excel, WPS or the likes), find the interest and accumulated amount at each compounding period over the three years. Display your results in a table as the one shown below: Month Deposit Interest Accumulated Amount 1 100 100 2 100 2 ? You do not need to include screenshots of your answer here. Submit your spreadsheet. [8] (b) Refer to Example 2.4 of Chapter 2. Use a similar process to find the accumulated value of the fund at the end of the third year. Round your answer to the nearest cent. Note: there may be slight discrepancies between the answers in parts (a) and (b) due to rounding. [8] You place $100 into a fund at the end of each month for 3 years. The annual nominal interest rate is 2% in the first year, 2.5% in the second year, and 3% in the third year. (a) Using a spreadsheet programme (Excel, WPS or the likes), find the interest and accumulated amount at each compounding period over the three years. Display your results in a table as the one shown below: Month Deposit Interest Accumulated Amount 1 100 100 2 100 2 ? You do not need to include screenshots of your answer here. Submit your spreadsheet. [8] (b) Refer to Example 2.4 of Chapter 2. Use a similar process to find the accumulated value of the fund at the end of the third year. Round your answer to the nearest cent. Note: there may be slight discrepancies between the answers in parts (a) and (b) due to rounding. [8]

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Part a Calculation with Spreadsheet Program Calculation for each month Month Depo... View the full answer