You want to buy a Ferrari Portofino. You can't afford it, but your local loan shark will lend youthe cost of the car ($230,950) if you will agree to pay him $400,000 in four years. What is the
interest rate on this loan? Use the Principles of Spreadsheet Design to set up and solve thisproblem.

4. Your wealthy relative has left you $3 million in trust you can access when you're 30 (in 5 years).If interest rates are about 8%, what is this worth to you now? Use the Principles of Spreadsheet
Design to set up and solve this problem.

Answer rating: 100% (QA)

Given Principal amount P 230950 Future amount A 400000 Number of times intere... View the full answer