how do I do this in excelHomework Answers
1. Making deposits at the beginning of the year:
=FV(rate,nper,pmt,pv,0 or 1)
=FV(8%,40,-2100,,1)
=587,540.18
2. Making deposits at the end of the year:
=FV(8%,40,-2100,,0)
=544,018.69
To build a model, you can assign different cells for different parameters as in rate A1, nper A2 etc. and the function will look like =FV(A1,A2,A3,,1)
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