Marie is expected to receive @25000 at the end of 7 years. If the interest rate...
Marie is expected to receive @25000 at the end of 7 years. If the interest rate is 10% per year how much is it worth at the end of 10 years?
Homework Answers
![Annual Interest rate, RATE Number of years of deposit, NPER Annual deposits, PMT Amount invested at the end of year-7, PV Interest compounding type, TYPE Future value at the end of year-10 10% 3 [Time gap between year-7 and year-10] $0 $25,000 0-0 if compounds at the end of each year; 1 if compounds at the beginning of each year $33,275 [Ref: NOTE] NOTE Future value at the end of year-10 is calculated using EXCEL FUNCTION FV(rate,nper,pmt,pv,type) where rate-10%; nper-3 pmt-o pv-25000; type = 0; Here, value for pv is negative as it denotes cash inflow; type =0 because interest compounds at the end of each period only 1 2 3 4 5 6 Annual Interest rate, RATE Number of years of deposit, NPER Annual deposits, PMT Amount invested at the end of year-7, PV Interest compounding type, TYPE Future value at the end of year-10 10% 3 [Time gap between year-7 and year-10] $0 $25,000 0 0 if compounds at the end of each year; 1 if compounds at the beginning of each year FV(B1,B2,B3,-B4,B5) [Ref: NOTE]](http://img.homeworklib.com/questions/d596c720-7533-11ea-8137-fbabc6571b19.png?x-oss-process=image/resize,w_560)
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Marie is expected to receive @25000 at the end of 7 years. If
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