Question

Time Value of Money Spreadsheet Example 4 Module IV Name: Date: 6 7 8 Question 1 9 Question 2 10 Question 3 11 Question 4 12 Question 5 13 Question 6 14 Question 7 15 Question 8 16 Question 9 17 Question 10 18 19 20 Single Amount or Annuity 21 Periodic Interest Rate 22 Number of Periods 23 24 25 Present Value of Single Amount 26 27 Future Value of Single Amount 28 29 Future Value of An Annuity 30 31 Future Value of An Annuity Due 32 33 Present Value of An Annuity 34 35 Present Value of An Annuity Due 36 37 $ 3,000.00 0.006 60! Answer:

Answer 1

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Answer to Question 1

Amount deposited = $700 every 3 months

Interest rate = 6% compounded quarterly

Time = 20 years

FV=(I,N,PMT,PV,type)

FV=(0.015,80,700,0,0) = $106897.6

(where I= 6%/4 or 0.015, N=20*4 =80, PMT=700, PV =0, type= 0)