Question 1 (1 point) If you deposit $1000 into South Central Bank today, How much will...

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Answer 1

Answer #1

We will use FV function in excel to arrive at the solution.

Attaching the excel snapshot with final value and formulas :-

А в с 1,000.00 Principal No of Years Interest Rate 13 7% $2,409.85

A OVOGWNA Principal 1000 No of Years 13 Interest Rate 0.07 =FV(C6,C5,0,-C4)

Hence, amount after 13 years = $2,409.85

Answer 2

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