Question

Please provide formulas if possible Before the advent of financial calculators (and Excel), tables were often used in the calculation of present values and future values. Using a two-way data table, create a future value table and a present value table. To make the table a little more interesting, make sure the table will calculate the future values and present values for different dollar amounts. One thing we should note here is that you will not be able to simply copy and paste the tables presented earlier in this workbook. When a data table is created, you cannot insert or delete rows or columns at a later point in time. Construct the following future value table: S 1 Present value: Interest rate: Number of periods: 5% |___ Future value: - 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% 24% 28% 32% 36%

Answer 1

a]

future value = present value * (1 + interest rate)^{number of periods}

C D E F G H I J K L M N O P P Q Q R R S S T U 41 A B 1 PY 2 Interest rate 5% 3 Number of periods 7 4 FY $1.41 5 1% 1 1.0100 2 1.0201 3 1.0303 4 1.0406 5 10510 6 10615 7 1.0721 8 1.0829 9 10937 10 1.1046 11 1.1157 12 1.1268 13 1.1381 14 1.1495 15 1.1610 16 1.1726 17 1.1843 18 1.1961 19 1.2081 20 1.2202 21 1.2324 22 1.2447 23 1.2572 24 1.2697 25 1.2824 30 13478 40 1.4889 50 1.6446 2% 1.0200 1.0404 10612 1.0824 1.1041 1.1262 1.1487 1.1717 1.1951 1.2190 1.2434 1.2682 1.2936 13195 1.3459 13728 1.4002 1.4282 1.4568 1.4859 1.5157 1.5460 1.5769 1.6084 1.6406 1.8114 2.2080 2.6916 3% 4% 1.0300 1.0400 1.0609 1.0816 109271.1249 1.1255 1.1699 1.1593 1.2167 1.1941 1.2653 1.2299 13159 1.2668 13686 13048 1.4233 13439 1.4802 13842 1.5395 1.4258 1.6010 1.4685 1.6651 1.5126 1.7317 1.5580 1.8009 1.6047 1.8730 1.6528 1.9479 1.7024 2.0258 1.7535 2.1068 18061 2.1911 1.8603 2.2788 1.9161 2.3699 1.9736 2.4647 2.0328 2.5633 2.0938 2.6658 2.4273 3.2434 3.2620 4.8010 4.3839 7.1067 5% 1.0500 1.1025 1.1576 1.2155 1.2763 13401 1.4071 1.4775 1.5513 1.6289 1.7103 1.7959 1.8856 1.9799 2.0789 2.1829 2.2920 2.4066 2.5270 2.6533 2.7860 2.9253 3.0715 3.2251 3.3864 4.3219 7.0400 11.4674 6% 1.0600 1.1236 1.1910 1.2625 13382 1.4185 1.5036 1.5938 1.6895 1.7908 1.8983 2.0122 2.1329 2.2609 2.3966 2.5404 2.6928 2.8543 3.0256 3.2071 3.3996 3.6035 3.8197 4.0489 4.2919 5.7435 10.2857 18.4202 7% 1.0700 1.1449 1.2250 1.3108 1.4026 1.5007 1.6058 1.7182 1.8385 1.9672 2.1049 2.2522 2.4098 2.5785 2.7590 2.9522 3.1588 3.3799 3.6165 3.8697 4.1406 4.4304 4.7405 5.0724 5.4274 7.6123 14.9745 29.4570 8% 1.0800 1.1664 1.2597 1 3605 1.4693 1.5869 1.7138 18509 1.9990 2.1589 2.3316 2.5182 2.7196 2.9372 3.1722 3.4259 3.7000 3.9960 4.3157 4.6610 5.0338 5.4365 5.8715 6.3412 6.8485 10.0627 21.7245 46.9016 9% 1.0900 1.1881 1.2950 1.4116 1.5386 1.6771 1.8280 1.9926 2.1719 2.3674 2.5804 2.8127 3.0658 3.3417 3.6425 3.9703 4.3276 4.7171 5.1417 5.6044 6.1088 6.6586 7.2579 7.9111 8.6231 13.2677 31.4094 74.3575 10% 1.1000 1.2100 13310 1.4641 1.6105 1.7716 1.9487 2.1436 2.3579 2.5937 2.8531 3.1384 3.4523 3.7975 4.1772 4.5950 5.0545 5.5599 6.1159 6.7275 7.4002 8.1403 8.9543 9.8497 10.8347 17.4494 45.2593 117.3909 12% 1.1200 1.2544 1.4049 1.5735 1.7623 1.9738 2.2107 2.4760 2.7731 3.1058 3.4785 3.8960 4.3635 4.8871 5.4736 6.1304 6.8660 7.6900 8.6128 9.6463 10.8038 12.1003 13.5523 15.1786 17.000 29.9599 93.0510 289.0022 14% 1.1400 1.2996 1.4815 1.6890 1.9254 2.1950 2.5023 2.8526 3.2519 3.7072 4.2262 4.8179 5.4924 6.2613 7.1379 8.1372 9.2765 10.5752 12.0557 13.7435 15.6676 17.8610 20.3616 23.2122 26.4619 50.9502 188.8835 700.2330 15% 1.1500 13225 1.5209 1.7490 2.0114 2.3131 2.6600 3.0590 3.5179 4.0456 4.6524 5.3503 6.1528 7.0757 8.1371 9.3576 10.7613 12.3755 14.2318 16.3665 18.8215 21.6447 24.8915 28.6252 32.9190 66.2118 267.8635 1,083.6574 16% 1.1600 1.3456 1.5609 1.8106 2.1003 2.4364 2.8262 3.2784 3.8030 4.4114 5.1173 5.9360 6.8858 7.9875 9.2655 10.7480 12.4677 14.4625 16.7765 19.4608 22.5745 26.1864 30.3762 35.2364 40.8742 85.8499 378.7212 1,670.7038 18% 1.1800 1.3924 1.6430 1.9388 2.2878 2.6996 3.1855 3.7589 4.4355 5.2338 6.1759 7.2876 8.5994 10.1472 11.9737 14.1290 16.6722 19.6733 23.2144 27.3930 32.3238 38.1421 45.0076 53.1090 62.6686 143.3706 750.3783 3.927.3569 20% 1.2000 1.4400 1.7280 2.0736 2.4883 2.9860 3.5832 4.2998 5.1598 6.1917 7.4301 8.9161 10.6993 12.8392 15.4070 18.4884 22.1861 26.6233 31.9480 38.3376 46.0051 55.2061 66.2474 79.4968 95.3962 237.3763 1,469.7716 9,100.4382 24% 1.2400 1.5376 1.9066 2.3642 2.9316 3.6352 4.5077 5.5895 6.9310 8.5944 10.6571 13.2148 16.3863 20.3191 25.1956 31.2426 38.7408 48.0386 59.5679 73.8641 91.5915 113.5735 140.8312 174.6306 216.5420 634.8199 5,455.9126 46,890.4346 28% 1.2800 1.6384 2.0972 2.6844 3.4360 4.3980 5.6295 7.2058 9.2234 11.8059 15.1116 19.3428 24.7588 31.6913 40.5648 51.9230 66.4614 85.0706 108.8904 139.3797 178.4060 228.3596 292.3003 374.1444 478.9049 1645.5046 19,426.6889 229,349.8616 32% 13200 1.7424 2.3000 3.0360 4.0075 5.2899 6.9826 9.2170 12.1665 16.0598 21.1989 27.9825 36.9370 48.7568 64.3590 84.9538 112.1390 148.0235 195.3911 257.9162 340.4494 449.3932 593.1990 783.0227 1033.5900 4,142.0748 66,520.7670 1,068,308.1960 36% 1.3600 1.8496 2.5155 3.4210 4.6526 6.3275 8.6054 11.7034 15.9166 21.6466 29.4393 40.0375 54.4510 74.0534 100.7126 136.9691 186.2779 253.3380 344.5397 468.5740 637.2606 866.6744 1,178.6772 1603.0010 2,180.0814 10,143.0193 219,561.5736 4,752,754.9027

1 PY 2 Interest rate 0.05 3 Number of periods 7 4 FY =B1(1+B2)"B3 0.07 7 1 10 11 12 13 14 15 16 17 18 13 20 21 22 4 5 6 7 8 9 10 11 12 14 0.01 0.02 003 0.04 0.05 0.06 0.08 0.09 0.1 0.12 0.14 0.15 =FV(B$6.$A7,0,-1) =FV(C$6,$A70,-1) =FV[D$6,$A7,0,-1) =FV[E$6,$A7,0,-1) FV[F$6,$A7,0,-1) =FV[G$6.$A7,0,-1) =FV(H$6,$A7,0,-1) =FV[1$6.$A7,0,-1) =FV(J$6,$A7,0,-1) =FV(K$6.$A7,0,-1) =FV[L$6.$A7,0,-1) =FV(M$6,$A7,0,-1) =FVIN$6,$A7,0,-1) =FV(B$6.$A8,0,-1) =FV(C$6,$A8,0,-1) =FV[D$6,$A8,0,-1) =FV[E$6,$A8,0,-1) =FV[F$6,$A8,0,-1) =FV(G$6.$A8,0,-1) =FV(H$6,$A8,0,-1) =FV(1$6.$A8,0,-1) =FV(J$6.$A8,0,-1) =FV[K$6.$A8,0,-1) =FV[L$6.$A8,0,-1) =FV(M$6,$A8,0,-1) FVIN$6,$A8,0,-1) =FV(B$6.$49.0,-1) =FV(C$6,$A9,0,-1) =FV[D$6,$A9,0,-1) =FV[E$6,$A9,0,-1) FV[F$6,$A9,0,-1) =FV[G$6.$A9,0,-1) =FV(H$6,$A9,0,-1) =FV[1$6.$A9,0,-1) =FV(J$6,$A9,0,-1) =FV(K$6.$A9,0,-1) =FV[L$6.$A9,0,-1) =FV(M$6,$A9,0,-1) FVIN$6,$A9,0,-1) =FV(B$6.$A10,0,-1) =FV(C$6,$A10,0,-1) =FV[D$6,$A10,0,-1)=FV[E$6,$A10,0,-1) =FV[F$6,$A10,0,-1) =FV(G$6.$410,0,-1) =FV(H$6,$A10,0,-1) =FV[1$6.$410,0,-1) =FV(J$6.$410,0,-1) =FV(K$6.$410,0,-1) =FV[L$6.$410,0,-1) =FV(M$6,$A10,0,-1)=FVIN$6,$A10,0,-1) =FV(B$6.$A110,-1) =FV(C$6,$A110,-1) =FV[D$6,$A11,0,-1) =FVIE$6,$A11,0,-1) =FV[F$6,$A11,0,-1) =FV[G$6.$A11,0,-1) =FV(H$6.$A110,-1) =FV[1$6,$A11,0,-1) =FV[J$6,$A11,0,-1) =FV(K$6,$A11,0,-1) =FV[L$6.$A11,0,-1) =FV(M$6,$A110,-1) FVIN$6,$A11,0,-1) =FV(B$6.$A12.0,-1) =FV(C$6,$A12,0,-1) =FV[D$6,$A12,0,-1)=FV[E$6,$A12,0,-1) =FV[F$6,$A12,0,-1) FV[G$6.$A12,0,-1) =FV(H$6,$A120,-1) =FV[$6,$A12,0,-1) =FV(J$6,$A12,0,-1) =FV(K$6,$A12,0,-1) =FV[L$6.$A12,0,-1) FV(M$6,$A12,0,-1) =FVIN$6,$A12,0,-1) =FV(B$6.$A13,0,-1) =FV(C$6,$A13,0,-1) =FV[D$6,$A13,0,-1)=FV[E$6,$A13,0,-1) =FV[F$6,$A13,0,-1) =FV(G$6.$A13,0,-1) =FV(H$6,$A13,0,-1) =FV[1$6.$A13,0,-1) =FV(J$6,$A13,0,-1) =FV(K$6.$A13,0,-1) =FV[L$6.$A13,0,-1) =FV(M$6,$A13,0,-1)=FVIN$6,$A13,0,-1) =FV(B$6.$A14,0,-1) =FV(C$6,$A14,0,-1)=FV[D$6,$A14,0,-1)=FV[E$6,$A14,0,-1) =FV[F$6,$A14.0,-1) FV[G$6.$A140,-1) =FV(H$6,$A14,0,-1) =FV[1$6.$A140,-1) =FV(J$6,$A14.0,-1) =FV(K$6.$A140,-1) =FV[L$6.$A140,-1) =FV(M$6,$A14,0,-1) FVIN$6,$A14,0,-1) =FV(B$6.$A150,-1) =FV(C$6,$A15,0,-1) =FV[D$6,$A15,0,-1)=FVIE$6,$A15,0,-1) =FV[F$6,$A15,0,-1) FV[G$6.$A15,0,-1) =FV(H$6.$A15,0,-1) =FV(1$6,$A15,0,-1) =FV[J$6,$A15,0,-1) =FV[K$6,$A15,0,-1) =FV[L$6,$A15,0,-1) =FV(M$6,$A15,0,-1) =FV(N$6,$A15,0,-1) =FV(B$6.$A16,0,-1) =FV(C$6,$A16,0,-1)=FV[D$6,$A16,0,-1)=FV[E$6,$A16,0,-1) =FV[F$6,$A16,0,-1) FV[G$6.$A160,-1) =FV(H$6,$A16,0,-1) =FV[1$6.$A16,0,-1) =FV(J$6,$A16,0,-1) =FV(K$6,$A16,0,-1) =FV[L$6.$A16,0,-1) =FV(M$6,$A16,0,-1)FVIN$6,$A16,0,-1) =FV(B$6.$A17,0,-1) =FV(C$6,$A17,0,-1) =FV[D$6,$A17,0,-1)=FV[E$6,$A17,0,-1) =FV[F$6,$A17,0,-1) =FV(G$6.$A170,-1) =FV(H$6,$A17,0,-1) =FV[1$6.$A170,-1) =FV(J$6,$A17,0,-1) =FV(K$6.$A170,-1) =FV[L$6.$A17,0,-1) =FV(M$6,$A17,0,-1)=FVIN$6,$A17,0,-1) =FV(B$6.$A18,0,-1) =FV(C$6,$A18,0,-1) =FV[D$6,$A18,0,-1)=FV[E$6,$A18,0,-1) =FV[F$6,$A18,0,-1) FV[G$6.$A18,0,-1) =FV(H$6,$A18,0,-1) =FV[$6,$A18,0,-1) =FV[J$6,$A18,0,-1) =FV(K$6,$A18,0,-1) =FV[L$6.$A18,0,-1) =FV(M$6,$A18,0,-1) =FVIN$6,$A18,0,-1) =FV(B$6.$A19,0,-1) =FV(C$6,$A19,0,-1) =FV[D$6,$A19,0,-1)=FVIE$6,$A19,0,-1) =FV[F$6,$A19,0,-1) FV[G$6.$A19,0,-1) =FV(H$6.$A19,0,-1) =FV{I$6,$A19,0,-1) =FV[J$6,$A19,0,-1) =FV(K$6,$A19,0,-1) =FV[L$6.$A19,0,-1) =FV(M$6,$A19,0,-1) =FVIN$6,$A19,0,-1) =FV(B$6.$A20,0,-1) =FV(C$6,$A20,0,-1) =FV[D$6,$A20,0,-1) =FV[E$6,$A20,0,-1) =FV[F$6,$A20,0,-1) =FV[G$6.$A20,0,-1) =FV(H$6,$A20,0,-1) =FV[1$6.$A20,0,-1) =FV(J$6,$A20,0,-1) =FV(K$6.$A20,0,-1) =FV[L$6.$A20,0,-1) =FV(M$6,$A20,0,-1) =FVIN$6,$A20,0,-1) =FV(B$6.$A210,-1) =FV(C$6,$A21,0,-1) =FV[D$6,$A21,0,-1)=FV[E$6,$A21,0,-1) =FV[F$6,$A21,0,-1) FV[G$6.$A210,-1) =FV(H$6,$A21,0,-1) =FV[1$6.$A210,-1) =FV(J$6,$A21,0,-1) =FV(K$6.$A210,-1) =FV[L$6.$A210,-1) =FV(M$6,$A21,0,-1)=FVIN$6,$A21,0,-1) =FV(B$6.$A22,0,-1) =FV(C$6,$A22,0,-1) =FV[D$6,$A22,0,-1) =FV[E$6,$A22,0,-1) =FV[F$6,$A22,0,-1) =FV[G$6.$A22,0,-1) =FV(H$6,$A22,0,-1) =FV[1$6.$A220,-1) =FV(J$6,$A220,-1) =FV(K$6,$A220,-1) =FV[L$6.$A220,-1) =FV(M$6,$A22,0,-1) =FVIN$6,$A22,0,-1) =FV(B$6.$A23,0,-1) =FV(C$6,$A23,0,-1) =FV[D$6,$A23,0,-1) =FVIE$6,$A23,0,-1) =FV[F$6,$A23,0,-1) =FV[G$6,$A23,0,-1) =FV(H$6.$A23,0,-1) =FV{I$6,$A230,-1) =FV[J$6.$A23,0,-1) =FV[K$6,$A230,-1) =FV[L$6,$A230,-1) =FV(M$6,$A23,0,-1) =FVIN$6,$A23,0,-1) =FV(B$6.$A24.0,-1) =FV(C$6,$A24.0,-1) =FV[D$6,$A24.0,-1) =FV[E$6,$A24.0,-1) =FV[F$6,$A24.0,-1) =FV[G$6.$A24.0,-1) =FV(H$6,$A24.0,-1) =FV[1$6.$A24.0,-1) =FV(J$6,$A240,-1) =FV(K$6,$A24.0,-1) =FV[L$6.$A24.0,-1) =FV(M$6,$A24.0,-1) =FVIN$6,$A24.0,-1) =FV(B$6.$A25,0,-1) =FV(C$6,$A25,0,-1) =FV[D$6,$A25,0,-1) =FV[E$6,$A25,0,-1) =FV[F$6,$A250,-1) =FV[G$6.$A25,0,-1) =FV(H$6,$A25,0,-1) =FV[1$6.$A25,0,-1) =FV(J$6,$A25,0,-1) =FV(K$6.$A25,0,-1) =FV[L$6.$A25,0,-1) =FV(M$6,$A25,0,-1) =FVIN$6,$A25,0,-1) =FV(B$6.$A26,0,-1) =FV(C$6,$A26,0,-1) =FV[D$6,$A26,0,-1) =FV[E$6,$A26,0,-1) =FV[F$6,$A26,0,-1) =FV[G$6.$A26,0,-1) =FV(H$6,$A26,0,-1) =FV[1$6.$A26,0,-1) =FV(J$6,$A26,0,-1) =FV(K$6.$A26,0,-1) =FV[L$6.$A26,0,-1) =FV(M$6,$A26,0,-1) =FVIN$6,$A26,0,-1) =FV(B$6.$A27,0,-1) =FV(C$6,$A27,0,-1) =FV[D$6,$A27,0,-1) =FVIE$6,$A27,0,-1) =FV[F$6,$A27,0,-1) =FV[G$6,$A27,0,-1) =FV(H$6.$A27,0,-1) =FV{I$6,$A27,0,-1) =FV[J$6.$A27,0,-1) =FV[K$6,$A27,0,-1) =FV[L$6,$A270,-1) =FV(M$6,$A27,0,-1) =FVIN$6,$A27,0,-1) =FV(B$6.$A28,0,-1) =FV(C$6,$A28,0,-1) =FV[D$6,$A28,0,-1) =FV[E$6,$A28,0,-1) =FV[F$6,$A28,0,-1) =FV[G$6.$A28,0,-1) =FV(H$6,$A28,0,-1) =FV[1$6.$A28,0,-1) =FV(J$6,$A28,0,-1) =FV(K$6,$A28,0,-1) =FV[L$6.$A28,0,-1) =FV(M$6,$A28,0,-1) =FVIN$6,$A28,0,-1) =FV(B$6.$A29,0,-1) =FV(C$6,$A29,0,-1) =FV[D$6,$A29,0,-1) =FV[E$6,$A29,0,-1) =FV[F$6,$A29,0,-1) =FV[G$6.$A29,0,-1) =FV(H$6,$A29,0,-1) =FV[$6.$A29,0,-1) =FV(J$6,$A29,0,-1) =FV(K$6.$A29,0,-1) =FV[L$6.$A29,0,-1) =FV(M$6,$A29,0,-1) =FVIN$6,$A29,0,-1) =FV(B$6.$A30,0,-1) =FV(C$6,$A30,0,-1) =FV[D$6,$A30,0,-1) =FVIE$6,$A30,0,-1) =FV[F$6,$A30,0,-1) =FV[G$6,$A30,0,-1) =FV(H$6.$A30,0,-1) =FV[$6,$A30,0,-1) =FV[J$6,$A30,0,-1) =FV[K$6,$A30,0,-1) =FV[L$6,$A30,0,-1) =FV(M$6,$A30,0,-1) =FVIN$6,$A30,0,-1) =FV(B$6.$A310,-1) =FV(C$6,$A31,0,-1)=FV[D$6,$A31,0,-1)=FV[E$6,$A31,0,-1) =FV[F$6,$A31,0,-1) FV[G$6.$A310,-1) =FV(H$6,$A310,-1) =FV[1$6.$A310,-1) =FV(J$6,$A31,0,-1) =FV(K$6,$A310,-1) =FV[L$6.$A310,-1) =FV(M$6,$A31,0,-1)=FVIN$6,$A31,0,-1) =FV(B$6.$A32,0,-1) =FV(C$6,$A32,0,-1) =FV[D$6,$A32,0,-1) =FV[E$6,$A32,0,-1) =FV[F$6,$A32,0,-1) =FV[G$6.$A32,0,-1) =FV(H$6,$A32,0,-1) =FV[1$6.$A320,-1) =FV(J$6,$A320,-1) =FV(K$6.$A320,-1) =FV[L$6.$A32,0,-1) =FV(M$6,$A32,0,-1) =FVIN$6,$A32,0,-1) =FV(B$6,$A33,0,-1) =FV(C$6,$A33,0,-1) =FV[D$6,$A33,0,-1) =FV[E$6,$A33,0,-1) =FV[F$6,$A330,-1) =FV[G$6.$A33,0,-1) =FV(H$6,$A33,0,-1) =FV[1$6.$A33,0,-1) =FV(J$6.$A33,0,-1) =FV[K$6.$A33,0,-1) =FV[L$6.$A33,0,-1) =FV(M$6,$A33,0,-1) =FVIN$6,$A33,0,-1) =FV(B$6,$A34,0-1) =FV(C$6,$A34,0,-1) =FV[D$6,$A34,0,-1) =FV[E$6,$A34,0,-1) =FV[F$6,$A34,0,-1) =FV[G$6,$A34,0,-1) =FV(H$6,$A34,0,-1) =FV[1$6,$A34.0,-1) =FV[J$6.$A340,-1) =FV[K$6,$A34,0,-1) =FV[L$6,$A340,-1) =FV(M$6,$A34,0,-1) =FV[N$6,$A340,-1) 16 24 18 es 26 20 27 21 28 22 29 23 30

1 PY 2 Interest rate 3 Number of periods 4 FY 7 1 82 10 11 12 13 14 15 16 4 5 6 7 8 9 10 12 13 18 19 21 22 20 14 0.16 0.18 0.24 0.28 0.32 036 =FV(0$6.$A7,0,-1) =FV(P$6,$A7,0,-1) =FVQ$6,$A7,0,-1) =FV(R$6,$A7,0,-1) FV[S$6,$A7,0,-1) =FV(T$6,$A7,0,-1) FV[U$6.$A7,0,-1) =FV(0$6.$A8,0,-1) =FV(P$6,$A8,0,-1) =FVQ$6,$A8,0,-1) =FV(R$6,$A8,0,-1) FV[S$6,$A8,0,-1) =FV(T$6,$A8,0,-1) FV[U$6.$A8,0,-1) =FV(O$6.$A9,0,-1) =FV(P$6,$A9,0,-1) =FVQ$6,$A9,0,-1) =FV(R$6,$A9,0,-1) FV[S$6,$A9,0,-1) =FV(T$6,$A9,0,-1) FV[U$6.$49.0,-1) =FV(0$6.$410,0,-1) =FV(P$6,$A10,0,-1) =FVQ$6,$A10,0,-1) =FV(R$6,$A10,0,-1) =FV[S$6.$410,0,-1) =FV(T$6,$A10,0,-1) FV[U$6.$410,0,-1) =FV(O$6.$A110,-1) =FV(P$6,$A110,-1) =FVQ$6,$A110,-1) =FV[R$6,$A11,0,-1) =FV[S$6,$A11,0,-1) =FV(T$6,$A11,0,-1) FV[U$6.$A110,-1) =FV(0$6.$A12,0,-1) =FV(P$6,$A12,0,-1) =FV(Q$6,$A12,0,-1)FV(R$6,$A12,0,-1) FV[S$6.$A12,0,-1) FV(T$6,$A12,0,-1) =FV[U$6.$A12.0,-1) =FV(O$6.$A13,0,-1) =FV(P$6,$A13,0,-1) =FVQ$6,$A13,0,-1)=FV[R$6,$A13,0,-1)=FV[S$6,$A13,0,-1) =FV(T$6,$A13,0,-1) =FV[U$6.$A13,0,-1) =FV(O$6.$A140,-1) =FV(P$6,$A14,0,-1) =FVQ$6,$A14,0,-1)=FV[R$6,$A14,0,-1)=FV[S$6,$A14,0,-1) =FV(T$6,$A14.0,-1) =FV[U$6.$A140,-1) =FV(0$6.$A150,-1) =FV(P$6,$A15,0,-1) =FV(Q$6,$A15,0,-1)=FV(R$6,$A15,0,-1) FV[S$6.$A15,0,-1) =FV(T$6,$A15,0,-1) FV[U$6.$A15,0,-1) =FV(O$6.$A16,0,-1) =FV(P$6,$A16,0,-1) =FV(Q$6,$A16,0,-1)=FV[R$6,$A16,0,-1)=FV[S$6,$A16,0,-1) =FV(T$6,$A16,0,-1) =FV[U$6.$A16,0,-1) =FV[0$6.$A170,-1) =FV(P$6,$A17,0,-1) =FVQ$6,$A17,0,-1)=FV(R$6,$A17,0,-1) =FV[S$6.$A17,0,-1) =FV(T$6,$A17,0,-1) FV[U$6.$A170,-1) =FV(O$6.$A18,0,-1) =FV(P$6,$A18,0,-1) =FV(Q$6,$A18,0,-1)=FV[R$6,$A18,0,-1)=FV[S$6,$A18,0,-1) =FV(T$6,$A18,0,-1) =FV[U$6.$A18,0,-1) =FV(O$6.$A19,0,-1) =FV(P$6,$A19,0,-1) =FV(Q$6,$A19,0,-1)=FV[R$6,$A19,0,-1)=FV[S$6,$A19,0,-1) =FV(T$6,$A19,0,-1) =FV[U$6.$A19,0,-1) =FV(O$6.$A20,0,-1) =FV(P$6,$A20,0,-1) =FVQ$6,$A20,0,-1) =FV(R$6,$A20,0,-1) =FV[S$6,$A200,-1) =FV(T$6.$A20,0,-1) =FV[U$6.$A20,0,-1) =FV(O$6.$A210,-1) =FV(P$6,$A21,0,-1) =FVQ$6,$A21,0,-1)=FV[R$6,$A21,0,-1)=FV[S$6.$A21,0,-1) =FV(T$6,$A210,-1) =FV[U$6.$A210,-1) =FV[0$6.$A22,0,-1) =FV(P$6,$A22,0,-1) =FVQ$6,$A22,0,-1) =FV(R$6,$A22,0,-1) =FV[S$6,$A22,0,-1) =FV(T$6.$A220,-1) =FV[U$6.$A22,0,-1) =FV(O$6.$A23,0,-1) =FV(P$6,$A23,0,-1) =FVQ$6,$A23,0,-1) =FV(R$6,$A23,0,-1) =FV[S$6,$A23,0,-1) =FV(T$6.$A23,0,-1) =FV[U$6.$A23,0,-1) =FV(O$6.$A24.0,-1) =FV(P$6,$A24.0,-1) =FVQ$6,$A24.0,-1) =FV(R$6,$A24.0,-1) =FV[S$6.$A24.0,-1) =FV(T$6.$A24.0,-1) =FV[U$6.$A24.0,-1) =FV(O$6.$A25,0,-1) =FV(P$6,$A25,0,-1) =FVQ$6,$A25,0,-1) =FV(R$6,$A25,0,-1) =FV[S$6,$A25,0,-1) =FV(T$6.$A25,0,-1) =FV[U$6.$A25,0,-1) =FV(O$6.$A26,0,-1) =FV(P$6,$A26,0,-1) =FVQ$6,$A26,0,-1) =FV(R$6,$A26,0,-1) =FV[S$6,$A26,0,-1) =FV(T$6.$A26,0,-1) =FV[U$6.$A26,0,-1) =FV[0$6.$A27,0,-1) =FV(P$6,$A27,0,-1) =FVQ$6,$A27,0,-1) =FV(R$6,$A27,0,-1) =FV[S$6.$A27,0,-1) =FV(T$6.$A27,0,-1) =FV[U$6.$A27,0,-1) =FV(O$6.$A28,0,-1) =FV(P$6,$A28,0,-1) =FVQ$6,$A28,0,-1) =FV[R$6,$A28,0,-1) =FV[S$6.$A28,0,-1) =FV(T$6,$A28,0,-1) =FV[U$6.$A28,0,-1) =FV(O$6.$A29,0,-1) =FV(P$6,$A29,0,-1) =FVQ$6,$A29,0,-1) =FV[R$6,$A29,0,-1) =FV[S$6.$A29,0,-1) =FV(T$6,$A29,0,-1) =FV[U$6.$A29,0,-1) =FV(O$6.$A30,0,-1) =FV(P$6,$A30,0,-1) =FVQ$6,$A30,0,-1) =FV(R$6,$A30,0,-1) =FV[S$6,$A300,-1) =FV(T$6.$A30,0,-1) =FV[U$6.$A30,0,-1) =FV(O$6.$A310,-1) =FV(P$6,$A31,0,-1) =FVQ$6,$A310,-1)=FV[R$6,$A31,0,-1)=FV[S$6,$A31,0,-1) =FV(T$6,$A31,0,-1) =FV[U$6.$A310,-1) =FV(0$6.$A32,0,-1) =FV(P$6,$A32,0,-1) =FVQ$6,$A32,0,-1) =FV(R$6,$A32,0,-1) =FV[S$6,$A32.0,-1) =FV(T$6.$A32.0,-1) =FV[U$6.$A32,0,-1) =FV(O$6.$A33,0,-1) =FV(P$6,$A33,0,-1) =FV[Q$6,$A33,0,-1) =FV(R$6.$A33,0,-1) =FV[S$6,$A33,0,-1) =FV(T$6.$A33,0,-1) =FV[U$6.$A33,0,-1) =FV[O$6,$A34,0,-1) =FV[P$6,$A34,0,-1) =FV[Q$6.$A34,0,-1) =FV[R$6,$A34,0,-1) =FV[S$6,$A34,0,-1) =FV(T$6,$A34,0,-1) =FV[U$6,$A34,0,-1) 24 18 25 26 20 27 21 28 22 29 23 30 24 31 25 32 30 33 40 34 50 35

b]

present value = future value / (1 + interest rate)^{number of periods}

B C D E F G H J K L M N O P Q R S T U A 1 PV 3 | Interest: 3 Number $1 5 | FY $1.41 0 0 0 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 30 40 50 2% 0.9901 0.9804 0.9803 0.9612 0.9706 0.9423 0.9610 0.9238 0.9515 0.9057 0.9420 0.8880 0.9327 0.8706 0.9235 0.8535 0.91430.8368 0.9053 0.8203 0.89630.8043 0.8874 0.7885 0.8787 0.7730 0.8700 0.7579 0.8613 0.7430 0.8528 0.7284 0.8444 0.7142 0.8360 0.7002 0.8277 0.6864 0.8195 0.6730 0.8114 0.6598 0.8034 0.6468 0.7954 0.6342 0.7876 0 .6217 0.7798 0 .6095 0.7419 0.5521 0.6717 0.4529 0.6080 0.3715 3% 0.9709 0.9426 0.9151 0.8885 0.8626 0.8375 0.8131 0.7894 0.7664 0.7441 0.72240 0.7014 0.6810 0.6611 0.6419 0.6232 0.6050 0.5874 0.5703 0.5537 0.5375 0.5219 0.5067 0.4919 0.4776 0.4120 0.3066 0.2281 4% 0.9615 0.9246 0.8890 0.8548 0.8219 0.7903 0.7599 0.7307 0.7026 0.6756 .6496 0.6246 0.6006 0.5775 0.5553 0.5339 0.5134 0.4936 0.4746 0.4564 0.4388 0.4220 0.4057 0.3901 0.3751 0.3083 0.2083 0.1407 5% 0.9524 0.9070 0.8638 0.8227 0.7835 0.7462 0.7107 0.6768 0.6446 0.6139 0.5847 0.5568 05303 0.5051 0.4810 0.4581 0.4363 0.4155 0.3957 0.3769 0.3589 0.3418 0.3256 0.3101 0.2953 0.2314 0.1420 0.0872 6% 0.9434 0.8900 0.8396 0.7921 0.7473 0.7050 0.6651 0.6274 0.5919 0.5584 0.5268 0.4970 0.4688 0.4423 0.4173 0.3936 0.3714 0.3503 0.3305 0.3118 0.2942 0.2775 0.2618 0.2470 0.2330 0.1741 0.0972 0.0543 7% 0.9346 0.8734 0.8163 0.7629 0.7130 0.6663 0.6227 0.5820 0.5439 0.5083 0.4751 0.4440 0.4150 0.3878 0.3624 0.3387 0.3166 0.2959 0.2765 0.2584 0.2415 0.2257 0.2109 0.1971 0.1842 0.1314 0.0668 0.0339 8% 0.9259 0.8573 0.7938 0.7350 0.6806 0.6302 .5835 0.5403 0.5002 0.4632 0.4289 0.3971 0.3677 0.3405 0.3152 0.2919 0.2703 0.2502 0.2317 0.2145 0.1987 0.1839 0.1703 0.1577 0.1460 0.0994 0.0460 0.0213 9% 0.9174 0.8417 0.7722 0.7084 0.6499 0.5963 0.5470 0.5019 0.4604 .4224 0.3875 0.3555 0.3262 0.2992 0.2745 0.2519 0.2311 0.2120 0.1945 0.1784 0.1637 0.1502 0.1378 0.1264 0.1160 0.0754 0.0318 0.0134 10% 0.9091 0.8264 0.7513 0.6830 0.6209 0.5645 0.5132 0.4665 0.4241 0.3855 0.3505 0.3186 0.2897 0.2633 0.2394 0.2176 0.1978 0.1799 0.1635 0.1486 0.1351 0.1228 0.1117 0.1015 0.0923 0.0573 0.0221 0.0085 12% 0.8929 0.7972 0.7118 0.6355 0.5674 0.5066 0.4523 0.4039 0.3606 03220 0.2875 0.2567 0.2292 0.2046 0.1827 0.1631 0.1456 0.1300 0.1161 0.1037 0.0926 0.0826 0.0738 0,0659 0.0588 0.0334 0.0107 0.0035 14% 15% 0.87720.8696 0.7695 0.7561 0.6750 0.6575 0.5921 0.5718 0.5194 0.4972 0.4556 0.4323 0.3996 0.3759 0.3506 0.3269 0.3075 0.2843 0.2697 0.2472 2366 0.2149 0.2076 0.1869 0.1821 0.1625 0.1597 0.1413 0.1401 0.1229 0.1229 0.1069 0.1078 0.0929 0.0946 0.0808 0.0829 0.0703 0.0728 0.0611 0.0638 0.0531 0.0560 0.0462 0.0491 00402 0.0431 00349 0.0378 0.0304 0.0196 0.0151 0.0053 0.0037 0.0014 0.0009 16% 0.8621 0.7432 0.6407 0.5523 0.4761 0.4104 0.3538 0.3050 0.2630 0.2267 0.1954 0.1685 0.1452 0.1252 0.1079 0.0930 0.0802 0.0691 0.0596 0.0514 0.0443 0.0382 0.0329 0.0284 0.0245 0.0116 0.0026 0.0006 18% 0.8475 0.7182 0.6086 0.5158 0.4371 0.3704 0 0.3139 0.2660 2255 0.1911 0.1619 0.1372 0.11630 0.0985 0,0835 0.0708 0.0600 0.0508 0.0431 0.0365 0.0309 0.0262 0.0222 0.0188 0.0160 0.0070 0.0013 0.0003 20% 24% 28% 0.8333 0.8065 0.7813 0.6944 0.6504 0.6104 0.5787 0.5245 0.4768 0.4823 0.4230 0.3725 0.4019 0.3411 0.2910 .3349 0.2751 0.2274 0.2791 0.2218 0.1776 0.2326 0.1789 0.1388 1 938 0.1443 0.1084 0.1615 0.1164 0.0847 0.1346 0938 0.0662 0.1122 0.0757 0.0517 .0935 0.0610 0.0404 0.0779 0.0492 0.0316 0.0649 0.0397 0.0247 0.0541 0.0320 0.0193 00451 0.0258 0 .0150 0.0376 0.0208 0.0118 0.0313 0.0168 0.0092 0.0261 0.0135 0.0072 0.02170.010900056 0.0181 0.0088 0.0044 0.0151 0.0071 0.0034 0.0126 0.0057 0.0027 0.0105 0.0046 0.0021 0.0042 0.0016 0.0006 0.0007 0.0002 0.0001 0.0001 0.0000 0.0000 32% 0.7576 0.5739 0.4348 0.3294 0 2495 0.1890 0.1432 0.1085 0.0822 0,0623 0.0472 0.0357 0.0271 0.0205 0.0155 0.0118 0.0089 0.0068 0.0051 0.0039 0.0029 0.0022 0.0017 0013 0.0010 0.0002 0.0000 0.0000 36% 0.7353 0.5407 0.3975 0.2923 0.2149 0.1580 0.1162 0.0854 0.0628 0.0462 0.0340 0.0250 0.0184 0.0135 0.0099 0.0073 0.0054 0.0039 0.0029 0.0021 0.0016 0.0012 0.0008 0.0006 0.0005 0.0001 0.0000 0.0000

0.05 0.07 L M L 1 PV 2 Interest rate 0.05 3 Number of periods 7 4 FY -B1(1+B2)"B3 5 0.01 0.02 0.03 0.04 0.06 0.08 0.09 0.1 0.12 0.15 7 1 -PV(B$6,$A70,-1) =PV(C$6,A7,0,-1) =PV(D$6,$A7,0,-1) =PV[E$6,$A7,0,-1) =PV[F$6.$A7,0,-1) =PV/G$6,$A7,0,-1) =PV(H$6,$A7,0,-1) =PV(1$6.$A7,0,-1) =PV(J$6.$A7,0,-1) =PV(K$6.$A7,0,-1) =PV[L$6,$A7,0,-1) =PV(M$6,$A7,0,-1) =PVIN$6,$A7,0,-1) 8 2 -PV(B$6,$A8,0,-1) =PV(C$6,$A8,0,-1) =PV(D$6,$A8,0,-1) =PV[E$6,$A8,0,-1) =PV[F$6.$A8,0,-1) =PV(G$6,$A8,0,-1) =PV(H$6,$A8,0,-1) =PV[1$6.$A8,0,-1) =PV(J$6.$A8,0,-1) =PV(K$6.$A8,0,-1) =PV[L$6.$A8,0,-1) =PV(M$6,$A8,0,-1) =PVIN$6,$A8,0,-1) -PV(B$6,$A9,0,-1) =PV(C$6,$A9,0,-1) =PV[D$6,$A9,0,-1) =PVIE$6,$A9,0,-1) =PV[F$6,$A9,0,-1) =PV(G$6.$A9.0,-1) =PV(H$6,$A9,0,-1) =PV[1$6.$A9,0,-1) =PV(J$6.$A9,0,-1) =PV(K$6.$A9,0,-1) =PV[L$6.$A9,0,-1) =PV(M$6,$A9,0,-1) =PVIN$6,$A9,0,-1) 10 4 -PV(B$6,$A10,0,-1) =PV(C$6,$A10,0,-1) =PV[D$6.$410,0,-1) =PV[E$6,$A10,0,-1) =PV[F$6.$410,0,-1) =PV(G$6,$A10,0,-1) =PV(H$6,$A10,0,-1) =PV(1$6,$A10,0,-1) =PV(J$6.$A10,0,-1) =PV(K$6,$A10,0,-1) =PVIL $6,$A10,0,-1) =PV(M$6.$A10,0,-1) =PVIN$6 $410,0,-1) 11 5 -PV(B$6,$A110,-1) =PV(C$6,$A11,0,-1) =PV[D$6,$A11,0,-1) =PVIE$6,$A11,0,-1) =PV[F$6,$A11,0,-1) =PV/G$6,$A110,-1) =PV(H$6,$A110,-1) PV(1$6.$A110,-1) =PV(J$6.$A110,-1) =PV(K$6.$A110,-1) =PV[L$6,$A110,-1) =PV(M$6,$A11,0,-1) =PVIN$6,$A11,0,-1) 126 -PV(B$6,$A12,0,-1) =PV(C$6,$A12,0,-1) =PVID$6,$A12,0,-1) =PV[E$6,$A12,0,-1) =PV[F$6.$A12,0,-1) =PV(G$6,$A12,0,-1) =PV(H$6,$A12,0,-1) =PV(1$6,$A12,0,-1) =PV(J$6.$A12.0,-1) =PV(K$6,$A12,0,-1) PVIL $6,$A12,0,-1) =PV(M$6,$A12,0,-1) =PVIN$6,$A12,0,-1) 137 -PV(B$6,$A13,0,-1) =PV(C$6,$A13,0,-1) =PV(D$6,$A13,0,-1) =PVIE$6,$A13,0,-1) =PV[F$6.$A13,0,-1) =PV/G$6,$A13,0,-1) =PV(H$6,$A13,0,-1) =PV(1$6,$A13,0,-1) =PV(J$6.$A13,0,-1) =PV(K$6,$A13,0,-1) =PV[L$6,$A13,0,-1) =PV(M$6,$A13,0,-1) =PVIN$6,$A13,0,-1) 148 -PV(B$6,$A14,0,-1) =PV(C$6,$A14,0,-1) =PV[D$6,$A14,0,-1) =PV[E$6,$A14.0,-1) =PV[F$6.$A140,-1) =PV(G$6,$A14,0,-1) =PV(H$6,$A14,0,-1) =PV(1$6,$A14,0,-1) =PV(J$6.$A14,0,-1) =PV(K$6,$A14,0,-1) =PVIL $6,$A14,0,-1) =PV(M$6,$A14.0,-1) =PVIN$6,$A14.0,-1) 159 -PV(B$6,$A15,0,-1) =PV(C$6,$A15,0,-1) =PV[D$6,$A15,0,-1) =PVIE$6,$A15,0,-1) =PV[F$6,$A15,0,-1) =PV(G$6.$A15,0,-1) =PV(H$6,$A15,0,-1) =PV(1$6.$A150,-1) =PV(J$6,$A15,0,-1) =PV(K$6.$A15,0,-1) PV(L$6.$A150,-1) =PV(M$6,$A15,0,-1) =PVIN$6,$A15,0,-1) 16 -PV(B$6,$A16,0,-1) =PV(C$6,$A16,0,-1) =PV(D$6,$A16,0,-1) =PV[E$6,$A16,0,-1) =PV[F$6.$A16,0,-1) =PV/G$6,$A16,0,-1) =PV(H$6,$A16,0,-1) =PV(1$6.$A16,0,-1) =PV(J$6.$A16,0,-1) =PV(K$6.$A16,0,-1) PV[L$6,$A16,0,-1) =PV(M$6,$A16,0,-1) =PVIN$6,$A16,0,-1) 17 -PV(B$6,$A17,0,-1) =PV(C$6,$A17,0,-1) =PV(D$6,$A17,0,-1) =PV[E$6,$A17,0,-1) =PV[F$6.$A17,0,-1) =PV(G$6,$A17,0,-1) =PV(H$6,$A17,0,-1) =PV(1$6.$A17,0,-1) =PV(J$6.$A170,-1) =PV(K$6.$A17,0,-1) =PV[L$6,$A17,0,-1) =PV(M$6,$A17,0,-1) =PVIN$6,$A17,0,-1) 18 -PV(B$6,$A18,0,-1) =PV(C$6,$A18,0,-1) =PV(D$6,$A18,0,-1) =PV[E$6,$A18,0,-1) =PV[F$6.$A18,0,-1) =PV/G$6,$A18,0,-1) =PV(H$6,$A18,0,-1) =PV(1$6.$A18,0,-1) =PV(J$6.$A18,0,-1) =PV(K$6.$A18,0,-1) =PV[L$6,$A18,0,-1) =PV(M$6,$A18,0,-1) =PVIN$6,$A18,0,-1) 19 -PV(B$6,$A19,0,-1) =PV(C$6,$A19,0,-1) =PV[D$6,$A19,0,-1) =PVIE$6,$A19,0,-1) =PV[F$6,$A19,0,-1) =PV(G$6.$A19,0,-1) =PV(H$6,$A19,0,-1) =PV(1$6.$A19,0,-1) =PV(J$6,$A19,0,-1) =PV(K$6.$A19,0,-1) PV(L$6.$A19,0,-1) =PV(M$6,$A19,0,-1) =PVIN$6,$A19,0,-1) -PV(B$6,$A20,0,-1) =PV(C$6,$A20,0,-1) =PV(D$6,$A20,0,-1) =PV[E$6,$A200,-1) =PV[F$6.$A20,0,-1) =PV/G$6,$A20,0,-1) =PV(H$6,$A20,0,-1) =PV(1$6.$A20,0,-1) =PV(J$6.$A20,0,-1) =PV(K$6.$A20,0,-1) =PV[L$6,$A20,0,-1) =PV(M$6,$A20,0,-1) =PVIN$6,$A200,-1) -PV(B$6,$A21,0,-1) =PV(C$6,$A21,0,-1) =PV(D$6,$A21,0,-1) =PV[E$6,$A21,0,-1) =PV[F$6.$A210,-1) =PV/G$6,$A21,0,-1) =PV(H$6,$A21,0,-1) =PV(1$6.$A210,-1) =PV(J$6.$A210,-1) =PV(K$6.$A210,-1) =PV[L$6,$A21,0,-1) =PV(M$6,$A21,0,-1) =PVIN$6,$A21,0,-1) -PV(B$6,$A22,0,-1) =PV(C$6,$A22,0,-1) =PV(D$6.$A22,0,-1) =PV[E$6,$A22,0,-1) =PV[F$6.$A220,-1) =PV/G$6,$A22,0,-1) =PV(H$6,$A22,0,-1) =PV(1$6.$A22,0,-1) =PV(J$6.$A22,0,-1) =PV(K$6.$A22,0,-1) =PV[L$6,$A22,0,-1) =PV(M$6,$A22,0,-1) =PVIN$6,$A22,0,-1) -PV(B$6,$A23,0,-1) =PV(C$6,$A23,0,-1) =PV[D$6,$A23,0,-1) =PV[E$6,$A23,0,-1) =PV[F$6,$A23,0,-1) =PV(G$6,$A23,0,-1) =PV(H$6,$A23,0,-1) =PV[1$6.$A23,0,-1) =PV(J$6.$A23,0,-1) =PV(K$6.$A23,0,-1) =PV[L$6,$A23,0,-1) =PV(M$6,$A23,0,-1) =PVIN$6,$A23.0,-1) -PV(B$6,$A24.0,-1) =PV(C$6,$A24.0,-1) =PV(D$6,$A24.0,-1) =PV[E$6,$A24.0,-1) =PV[F$6.$A24.0,-1) =PV/G$6,$A24.0,-1) =PV(H$6,$A24.0,-1) =PV(1$6.$A24.0,-1) =PV(J$6.$A24.0,-1) =PV(K$6.$A24.0,-1) =PV[L$6,$A24.0,-1) =PV(M$6,$A24.0,-1) =PVIN$6,$A24.0,-1) -PV(B$6,$A25,0,-1) =PV(C$6,$A25,0,-1) =PV(D$6.$A25,0,-1) =PV[E$6,$A250,-1) =PV[F$6.$A25,0,-1) =PV/G$6,$A25,0,-1) =PV(H$6,$A25,0,-1) =PV(1$6.$A25,0,-1) =PV(J$6.$A25,0,-1) =PV(K$6.$A25,0,-1) =PV[L$6,$A25,0,-1) =PV(M$6,$A25,0,-1) =PVIN$6,$A250,-1) -PV(B$6,$A26,0,-1) =PV(C$6,$A26,0,-1) =PV(D$6,$A26,0,-1) =PV[E$6,$A26,0,-1) =PV[F$6.$A26,0,-1) =PV/G$6,$A26,0,-1) =PV(H$6,$A26,0,-1) =PV(1$6.$A26,0,-1) =PV(J$6.$A26,0,-1) =PV(K$6.$A26,0,-1) =PV[L$6,$A26,0,-1) =PV(M$6,$A26,0,-1) =PVIN$6,$A26,0,-1) -PV(B$6,$A27,0,-1) =PV(C$6,$A27,0,-1) =PV[D$6,$A27,0,-1) =PV[E$6,$A27,0,-1) =PV[F$6,$A270,-1) =PV(G$6,$A27,0,-1) =PV(H$6,$A27,0,-1) =PV[1$6.$A27,0,-1) =PV(J$6.$A27,0,-1) =PV(K$6.$A27,0,-1) =PV[L$6,$A27,0,-1) =PV(M$6,$A27.0,-1) =PVIN$6,$A27,0,-1) -PV(B$6,$A28,0,-1) =PV(C$6,$A28,0,-1) =PV(D$6,$A28,0,-1) =PV[E$6,$A28,0,-1) =PV[F$6.$A28,0,-1) =PV/G$6,$A28,0,-1) =PV(H$6,$A28,0,-1) =PV(1$6.$A28,0,-1) =PV(J$6.$A28,0,-1) =PV(K$6.$A28,0,-1) =PV[L$6,$A28,0,-1) =PV(M$6,$A28,0,-1) =PVIN$6,$A28,0,-1) -PV(B$6,$A29,0,-1) =PV(C$6,$A29,0,-1) =PV(D$6.$A29.0,-1) =PV[E$6,$A29,0,-1) =PV[F$6.$A29,0,-1) =PV/G$6,$A29,0,-1) =PV(H$6,$A29,0,-1) =PV(1$6.$A29,0,-1) =PV(J$6.$A29,0,-1) =PV(K$6.$A29,0,-1) =PV[L$6,$A29,0,-1) =PV(M$6,$A29,0,-1) =PVIN$6,$A29,0,-1) -PV(B$6,$A30,0,-1) =PV(C$6,$A30,0,-1) =PV[D$6,$A30,0,-1) =PV[E$6,$A30,0,-1) =PV[F$6,$A30,0,-1) =PV(G$6,$A30,0,-1) =PV(H$6,$A30,0,-1) =PV[1$6.$A30,0,-1) =PV(J$6.$A30,0,-1) =PV(K$6.$A30,0,-1) =PV[L$6,$A30,0,-1) =PV(M$6,$A30,0,-1) =PVIN$6,$A30,0,-1) -PV(B$6,$A31,0,-1) =PV(C$6,$A31,0,-1) =PV(D$6,$A31,0,-1) =PV[E$6,$A31,0,-1) =PV[F$6.$A310,-1) =PV/G$6,$A31,0,-1) =PV(H$6,$A31,0,-1) =PV(1$6.$A310,-1) =PV(J$6.$A310,-1) =PV(K$6.$A310,-1) =PV[L$6,$A31,0,-1) =PV(M$6,$A31,0,-1) =PVIN$6,$A31,0,-1) -PV(B$6,$A32,0,-1) =PV(C$6,$A32,0,-1) =PV(D$6.$A32.0,-1) =PV[E$6,$A32,0,-1) =PV[F$6.$A320,-1) =PV/G$6,$A32,0,-1) =PV(H$6,$A32,0,-1) =PV(1$6.$A32,0,-1) =PV(J$6.$A32,0,-1) =PV(K$6.$A32,0,-1) =PV[L$6,$A32,0,-1) =PV(M$6,$A32,0,-1) =PVIN$6,$A32,0,-1) 33 =PV(B$6.$A33,0,-1) =PVC$6,$A33,0,-1) =PV[D$6,$A33,0,-1) =PV(E$6,$A33,0,-1) =PV[F$6,$A33,0,-1) =PV/G$6,$A33,0,-1) = PV(H$6,$A33,0,-1) =PV(1$6,$A33,0,-1) =PV(J$6,$A33,0-1) =PV(K$6,$A33,0,-1) =PV[L$6,$A33,0-1) =PV(M$6,$A33,0,-1) =PV(N$6,$A33,0-1) =PV(B$6,$A34,0,-1) =PV(C$6,$A34,0,-1) =PV[D$6,$A34,0,-1) =PV(E$6,$A34,0,-1) =PV(F$6,$A34,0,-1) =PV(G$6,$A34.0,-1) =PV(H$6,$A34,0,-1) =PV(!$6,$A34,0,-1) =PV(J$6,$A34.0,-1) =PV(K$6,$A34,0,-1) =PV[L$6,$A34,0,-1) =PV(M$6,$A34.0,-1) =PV(N$6,$A34.0,-1)

1 PV 2 Interest rate 3 Number of periods 4 FY 5 8 2 10 4 115 126 13 7 14 8 159 16 10 17 11 18 12 19 13 20 14 21 15 22 16 23 17 24 18 25 19 26 20 27 21 28 22 29 23 30 24 31 25 32 30 33 40 34 50 0.15 0.16 0.18 0.2 0.24 0.28 0.32 0.36 -PV(N$6,$A70,-1) =PV[0$6,$A7,0,-1) =PV(P$6,$A7,0,-1) =PV(Q$6.$A7,0,-1) =PV(R$6.$A7,0,-1) =PV[S$6,$A7,0,-1) =PV(T$6,$A7,0,-1) =PV(U$6,$A7,0,-1) =PV(N$6,$A8,0,-1) =PV(O$6,$A8,0,-1) =PV(P$6,$A8,0,-1) =PV(Q$6,$A8,0,-1) =PV(R$6,$A8,0,-1) =PV(S$6,$A8,0,-1) =PV(T$6,$A8,0,-1) =PV[U$6,$A8,0,-1) =PV(N$6.$49.0,-1) =PV(O$6,$A9,0,-1) =PV(P$6,$A9,0,-1) =PV(Q$6,$A9,0,-1) =PV[R$6,$A9,0,-1) =PV(S$6.$A9,0,-1) =PV(T$6,$49,0,-1) =PV[U$6,$A9,0,-1) =PV(N$6,$A10,0,-1) =PV[0$6,$A10,0,-1) =PV(P$6,$A10,0,-1) =PV(Q$6,$A10,0,-1) =PV(R$6,$A10,0,-1) =PV(S$6,$A10,0,-1) =PV(T$6,$A10,0,-1) =PV(U$6,$A10,0,-1) =PV(N$6.$A110,-1) PV(O$6,$A110,-1) =PV(P$6,$A11,0,-1) =PV(Q$6,$A11,0,-1) =PV[R$6,$A11,0,-1) =PV(S$6.$A11,0,-1) =PV(T$6,$A110,-1) =PV[U$6,$A110,-1) =PV(N$6.$A12.0,-1) =PV(O$6,$A12,0,-1) =PV(P$6,$A12,0,-1)=PV(Q$6,$A12,0,-1) =PV[R$6,$A12,0,-1) =PV(S$6.$A12,0,-1) =PV(T$6,$A120,-1) =PV[U$6,$A12,0,-1) -PV(N$6,$A13,0,-1) =PV[O$6,$A13,0,-1) =PV(P$6,$A13,0,-1) =PV[Q$6,$A13,0,-1) =PV[R$6.$A13,0,-1) =PV[S$6,$A130,-1) =PV(T$6,$A13,0,-1) =PV[U$6,$A13,0-1) =PV(N$6,$A14,0,-1) =PV[O$6,$A14,0,-1) =PV(P$6,$A14,0,-1) =PV(Q$6,$A14,0,-1) =PV(R$6,$A14,0,-1) =PV(S$6,$A14,0,-1) =PV(T$6,$A14,0,-1) =PV[U$6,$A14,0,-1) =PV(N$6.$A15,0,-1) =PV(O$6,$A15,0,-1) =PV(P$6,$A15,0,-1)=PV(Q$6,$A15,0,-1) =PV[R$6,$A15,0,-1) =PV(S$6.$A150,-1) =PV(T$6,$A15,0,-1) =PV[U$6,$A15,0,-1) =PV(N$6.$A16,0,-1) =PV(O$6,$A16,0,-1) =PV(P$6,$A16,0,-1)=PV(Q$6,$A16,0,-1) =PV[R$6,$A16,0,-1) =PV(S$6.$A16,0,-1) =PV(T$6,$A16,0,-1) =PV[U$6,$A16,0,-1) =PV(N$6.$A17,0,-1) =PV(O$6,$A17,0,-1) =PV(P$6,$A17,0,-1)=PV(Q$6,$A17,0,-1) =PV[R$6,$A17,0,-1) =PV(S$6.$A170,-1) =PV(T$6,$A17,0,-1) =PV[U$6,$A17,0,-1) =PV(N$6,$A18,0,-1) =PV[0$6,$A18,0,-1) =PV(P$6,$A18,0,-1) =PV(Q$6,$A18,0,-1) =PV(R$6,$A18,0,-1) =PV(S$6,$A18,0,-1) =PV(T$6,$A18,0,-1) =PV(U$6,$A18,0,-1) =PV(N$6.$A19,0,-1) =PV(O$6,$A19,0,-1) =PV(P$6,$A19,0,-1)=PV(Q$6,$A19,0,-1) =PV[R$6,$A19,0,-1) =PV(S$6.$A19,0,-1) =PV(T$6,$A19,0,-1) =PV[U$6,$A19,0,-1) =PV(N$6,$A20,0,-1) =PV[O$6,$A20,0,-1) =PV(P$6,$A20,0,-1) =PV(Q$6,$A20,0,-1) =PV(R$6,$A20,0,-1) =PV(S$6.$A20,0,-1) =PV(T$6,$A20,0,-1) =PV(U$6,$A20,0,-1) =PV(N$6.$A210,-1) =PV(O$6,$A21,0,-1) =PV(P$6,$A21,0,-1) =PV(Q$6,$A21,0,-1) =PV[R$6,$A21,0,-1) =PV(S$6,$A21,0,-1) =PV(T$6.$A210,-1) =PV[U$6,$A21,0,-1) =PV(N$6,$A22,0,-1) =PV[0$6,$A22,0,-1) =PV(P$6,$A22,0,-1) =PV(Q$6,$A22,0,-1) =PV(R$6,$A22,0,-1) =PV(S$6,$A22,0,-1) =PV(T$6,$A22,0,-1) =PV(U$6,$A22,0,-1) =PV(N$6.$A23,0,-1) =PV(O$6,$A23,0,-1) =PV(P$6,$A23,0,-1) =PV(Q$6,$A23,0,-1) =PV[R$6,$A23,0,-1) =PV(S$6,$A23,0,-1) =PV(T$6.$A23,0,-1) =PV[U$6,$A23,0,-1) =PV(N$6.$A24.0,-1) =PV(O$6,$A24.0,-1) =PV(P$6,$A24.0,-1) =PV(Q$6,$A24.0,-1) =PV[R$6,$A240,-1) =PV(S$6,$A24.0,-1) =PV(T$6.$A24.0,-1) =PV[U$6,$A24.0,-1) =PV(N$6.$A25,0,-1) =PV(O$6,$A25,0,-1) =PV(P$6,$A25,0,-1) =PV(Q$6,$A25,0,-1) =PV[R$6,$A250,-1) =PV(S$6,$A25,0,-1) =PV(T$6.$A25,0,-1) =PV[U$6,$A25,0,-1) =PV(N$6,$A26,0,-1) =PV(O$6,$A26,0,-1) =PV(P$6,$A26,0,-1) =PV(Q$6,$A26,0,-1) =PV(R$6,$A26,0,-1) =PV(S$6,$A26,0,-1) =PV(T$6,$A26,0,-1) =PV[U$6,$A26,0,-1) =PV(N$6.$A27,0,-1) =PV(O$6,$A27,0,-1) =PV(P$6,$A27,0,-1) =PV(Q$6,$A27,0,-1) =PV[R$6,$A270,-1) =PV(S$6,$A270,-1) =PV(T$6.$A27,0,-1) =PV[U$6,$A27,0,-1) -PV(N$6,$A28,0,-1) =PV(O$6,$A28,0,-1) =PV(P$6,$A28,0,-1) =PV(Q$6,$A28,0,-1) =PV[R$6.$A28,0,-1) =PV(S$6.$A28,0,-1) =PV(T$6,$A28,0,-1) =PV(U$6,$A28,0,-1) =PV(N$6.$A29,0,-1) =PV(O$6,$A29,0,-1) =PV(P$6,$A29,0,-1) =PV(Q$6,$A29,0,-1) =PV[R$6,$A29,0,-1) =PV(S$6,$A29,0,-1) =PV(T$6.$A29,0,-1) =PV[U$6,$A29,0,-1) =PV(N$6,$A30,0,-1) =PV[O$6,$A30,0,-1) =PV(P$6,$A30,0,-1) =PV(Q$6,$A30,0,-1) =PV(R$6,$A30,0,-1) =PV(S$6.$A30,0,-1) =PV(T$6,$A30,0,-1) =PV(U$6,$A30,0,-1) =PV(N$6.$A310,-1) =PV(O$6,$A310,-1) =PV(P$6,$A31,0,-1) =PV(Q$6,$A31,0,-1) =PV[R$6,$A31,0,-1) =PV(S$6,$A310,-1) =PV(T$6.$A310,-1) =PV[U$6,$A31,0,-1) =PV(N$6,$A32,0,-1) =PV[O$6,$A32,0,-1) =PV(P$6,$A32,0,-1) =PV(Q$6,$A32,0,-1) =PV(R$6,$A32,0,-1) =PV(S$6,$A32,0,-1) =PV(T$6,$A32,0,-1) =PV[U$6,$A32,0,-1) -PV(N$6,$A33,0,-1) =PV[O$6,$A33,0-1) =PV(P$6,$A33,0,-1) =PV(Q$6,$A33,0,-1) =PV[R$6.$A33,0,-1) =PV[S$6,$A33,0,-1) =PV(T$6,$A33,0,-1) =PV[U$6,$A33,0,-1) =PV(N$6.$A34.0,-1) =PV(O$6,$A34,0,-1) =PV(P$6,$A34,0,-1) =PV(Q$6,$A34.0,-1) =PV[R$6,$A340,-1) =PV(S$6,$A34,0,-1) =PV(T$6.$A34.0,-1) =PV[U$6,$A34,0,-1)