Question

umber of Total interest Value of earned account $600.00 years Write a formula in cell E3 to compute the value of the account after 1 year. Then use the fill down feature to complete columns D and E 30.00 60.00 90.00 120.00 150.00 00.00 up to 30 years. Note: We are skipping years 6, 7,8, & 9 You will need to use the symbol "$" to lock certain cell references. See the formula already provided in cell D3 for a hint 10 Experiment with different values in A1 until the value after 10 years is at least $10,000. What value did you use? Answer here, then return the value in A1 to $600. 12 13 14 15 16 17 18 19 Experiment with different values in 82 until the value of the account after 10 years (cell E8) is at least $1,000. What value did you use? Answer here, then return the value in A2 to 0.05. 21 23 25 26 27 30

Answer 1

We fix the cell reference to initial Value of Account at the start of Year 1, which is $E$1 ($600).

The formula in each row of column D then becomes the previous row + 30

Pls note that A and B are not visible in your data, if those are simple interest rates, you can link that to column D to update column D accordingly. (Say, if the simple interest rate is 5%, D3 becomes A1*0.05, and subsequent years have values in simple integer multiples of this, i.e. 2*D3, 3*D3, and so on...)

Output showing the formula in Column D:

No. of Years Total interest earned Value of account 630 30 60 S) 120 1.10 4 690 720 750 HI 810 210 240 270 300 330 360 390 420 450 10 870 NINI 13 14 1% ให้ 17 990 1020 1050 1080 1110 1140 1170 510 19 570 21 630 1230 1260 1290 1320 1350 1380 1410 1440 1470 23 24 690 720 750 780 H1) 26 27 30 870