Use an Excel spreadsheet and the FV function to determine the following a The future value of a $2,000 annuity for 30 years at 8 compounded annually b The future value of a $2,000 annuity for 30 years at 8 compounded semiannually c The future value of a $2,000 annuity for 30 years at 8 compounded quarterly d How much extra interest is earned on the annuity above simply by changing the compounding period from annually to quarterly e How much extra interest would be earned by changing from annual compounding to daily compounding f Louisa set up an individual retirement account (IRA account) on her 35th birthday She contributed $2,000 to the account on each subsequent birthday through her 65th The account earned 8 compounded annually What amount of interest (in dollars) will she have earned on this investment g Suppose she had started the IRA account 10 years earlier when she was 25 years old How much additional interest would she have earned on this investment by age 65

Question: Use an Excel spreadsheet and the FV function to determine the following: a. The future value of a $2,000 annuity for 30 years at 8%

Use an Excel spreadsheet and the FV function to determine the following:
a. The of a $2,000 for 30 years at 8% compounded annually.
b. The of a $2,000 for 30 years at 8% compounded semiannually.
c. The of a $2,000 for 30 years at 8% compounded quarterly.
d. How much extra interest is earned on the above simply by changing the period from annually to quarterly?
e. How much extra interest would be earned by changing from annual to daily Louisa set up an individual retirement account (IRA account) on her 35th birthday.
She contributed $2,000 to the account on each subsequent birthday through her 65th.
The account earned 8% compounded annually. What amount of interest (in dollars) will she have earned on this investment?
g. Suppose she had started the IRA account 10 years earlier when she was 25 years old.
How much additional interest would she have earned on this investment by age 65?

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